Another great property management starter book was Landlording on Autopilot - Mike Butler.

This is one way to manage costs risk.The ways to own the property besides FHA & conventional loans is with private loans, investor DSCR loans (non owner occupied); seller financing, lease options, partnering with others to take the property down..... 

I work with lots of agents and my team manages 350ish homes in the greater CLT market.

I highly suggest you use our marketplaces to find trusted, investor-friendly team members: Tax Pro finder: https://www.biggerpockets.com/business/finder/tax-and-financ...Lender finder: https://www.biggerpockets.com/business/finder/lendersProperty manager finder (if you go that route and don't self manage): https://www.biggerpockets.com/business/finder/property-manag...

2.What are the best and most cost-effective solutions for managing this potential long-term issue?

My goal is to get started with a turnkey MTR or LTR, unless I can be convinced BRRR can work without being present to manage the rehab. 

Day traders are not exempt unless they elect mark-to-market (MTM) accounting, which eliminates wash sale tracking but taxes gains as ordinary income.To manage taxes, track trades closely, avoid overlapping purchases, or consider MTM election if trading actively.

Brandon Turner's two books: The Book on Rental Property Investing and The Book on Managing Rental Properties. 

Quote from @Henry Clark: Managers roof got finished. 

Do you manager your property yourself ?