What is the simplest and most cost-effective approach to asset protection for this property?

Option 4 is the simplest as bank lending is a real hassle these days with the regulation burden. 

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

This sounds like easiest and simplest way..

As far as exit cap rate, the simplest answer is to use whatever CoStar forecasts for that submarket in the year you plan to sell and bump it up 50 bps or so.

I see a (blurry) way thru it, but I am not sure my way is the simplest / smartest way.

And I have a intermediate company who won't answer my simplest question and suggest me to look for professional 1031e company to ask question.

This isn't even the most efficient way to do that, but it is the simplest for proof of concept.TL;DR 200k investment house makes greater impact than 200k down payment on current CA market priced home.

The simplest way to get started is to network with other investors.

Given that these tenants have different schedules and driving needs, I'm looking for advice on how to handle the situation in the simplest and safest way possible.