It will always be best to put your own eyes on the property and see the neighboring houses, neighborhood etc. 

I am very confused what a 401k trust is because I don't see it listed in the types of available trusts below.https://wyomingllcattorney.com/Wyoming-Asset-Protection-Trus...I know land trusts don't offer liability protection if the tenant sues the trust's beneficiary.

It helps you establish one economic unit to meet material participation hours.If you are in higher income tax brackets, I suggest getting a multi-member LLC for audit protection.

Just keep your eye on the cap gains exclusion time limit and mark a decision before your time runs out.

Networking with other investors and seeking advice from financial advisors can provide valuable insights and help you avoid common pitfalls.Keep an eye on your financial health by maintaining an emergency fund and avoiding over-leveraging.

If you have the mortgage in you name, would the LLC provide any protection against a lawsuit?

Not necessarily for tax purposes, but for asset protection purposes.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

I'm not saying to invest in El Salvador (I haven't researched it enough) but I think property rights need to be protected in two ways; from arbitrary government abuse, but also from rampant criminality. 

In many cases right now, I am pleased if the operator stops distributions in order to build up reserves and protect the asset - as long as they are sharing the reasons behind it.