Without all approvals and all lender required diligence they are often reluctant to finance land.

@Scott Ray the way you have structured the investment eliminates double taxation situation, but as as a Canadian resident you are required to report the income here in Canada.

Also I would require renter's insurance for sure. 

The requirement is that the house meet habitability standards, and building code standards say a house must be pest free to be habitable.

I'm absolutely not interested in leasing fast at all and I'm extremely picky about tenants and I do things like require a large security deposit (even for section 8 renters, I have three of them and love them), don't supply appliances, take my time doing background checks and arranging multiple calls/meetings with potential tenants. 

If it is interest bearing than most states require that a portion of the interest goes to the tenant.

Hi Trey, Most lenders are going to require a minimum down payment of 20-25% for long term financing for an investment property.

in Oklahoma is a real estate license required to manage properties?

If that means renting it out 2x for 1 night each, then so be it.I'd recommend doing everything yourself for 2024 to meet the material participation requirements.

One note, one balance, one solitary headache to worry about.