Forming an LLC in your home state will be the simplest and should work just fine.

A recessed drywall closure is the simplest method.

My persona bias aside, turnkey is the simplest option.

Once you have determined your property's cost basis, the simplest approach to establishing the depreciation basis for the dwelling structure is to multiply your cost basis by your tax assessor's improvement ratio.  

You have discovered our secret - I'm sorry - but you know too much for us to let you go now......Ahemm... well... ok .. so in theory it really is the simplest thing in the world and why the hell isn't everyone doing it? 

I think just selling the raw land and using that as start up cash to invest locally may be simplest.

The simplest ones would be read manually.

Simplest is that the lender is a friend or family.

I think this may be the simplest way to create the type of deal you are thinking about. 

Seems perfectly doable and after looking around in south FL I have gathered most people are already into it.The simplest house hacking method is to buy a property with 2-4 units, live in one and rent the others.Up to 4 units is still considered a non-commercial property.This let's you put down 20% on conventional loans and 3.5% on FHA loans.That's the golden ticket for house hacking.Buy a 4 unit using 3.5% down, live in one (cheapest one), rent the other 3.