I’ve heard this one mentioned as a good investor resource.  

I think someone mentioned earlier, it all depends on conditions and competition where you are.

The neighbors also mentioned that "he is well known around the neighborhood for sleeping in vacant homes and has already burned down 3 of them." 

  * A bonus play would be purchasing a small commercial property with at least a 25 space lot in the aforementioned areas; the idea is to convert the lot into paid parking to increase value.   

Also, the LLC does NOT eliminate any personal liability on the next loan application which is a popular selling point by ill informed DSCR brokers on this board (but they rarely mention the higher financing costs that come with financing in a LLC) IMO, proper insurance coverage is a better choice. 

As mentioned a few times, whether you want to be active or passive is the first question to ask. 

If you can there is no mention.

The fha 100 mile rule will be triggered whenever you try to vacate your current primary and also trying to use the rental income to qualify.However, this 100 mile rule can be exempted for the following rulesRelocationIncrease in family sizeVacating a joint owned propertyNon-occupying co-borrowerIf you are not trying to use FHA on your 2nd house hack, you can use conventional and the rules that I mentioned above will not be a concern and will be exempted.

I know this is a lot, and I do not expect a reply that replies to each thing I mentioned... although that would be nice.

As someone mentioned above, people tend to overcomplicate the process or the goals on what they're looking to achieve.