As I understand it, acquiring a property subject to the existing mortgage entails that the owner is still responsible for the lean, but ownership of the property is transferred to the buyer/investor. 

Business loan conditions vary wildly depending on the product so specifics of the deal matter, it's hard to say what a standard guarantee will entail. 

I would be willing to communicate with tenants via email or phone.I am sure this just scrapes the surface of what all self managing will entail, and I am confident there will be lessons learned along the way that I haven't thought of yet.Also, with the above in mind, all the markets we are targeting are either within a 3 hour radius of where we live, so getting there and back in a day would be feasible. 

He is on a month to month lease that entails a 30-day notice of termination.

But Im curious what that entails specifically?

Here is the reasoning behind why it goes to property manager:Mgr calls to get the rent, Mgr preps and posts a 3 day notice, mgr makes another call getting the rent, mgr collects the late fee for all the extra work entailed.

Also, curious of info on anyone who has implemented in 100 year old homes and what it entailed (how many systems required a complete re-do and at what expense)?

http://www.lonestarlandlaw.com/Judgment-Liens.htmlI think this covers my assertion 

The assertion that STR regulations infringe on personal property rights has limited legal basis, as overwhelmingly courts have ruled that the rights of STR owner/operators does not supersede the rights of their neighbors who bought in with the expectation that commercial activity would not be allowed in a residentially zoned area. 

I've never bought from a wholesaler - most of the deals I see from them are either not in my area or not really deals - but I can see certain situations in which they could provide value.Unfortunately, a good percentage of them are really just acting as unlicensed real estate agents, and an even bigger percentage have no ability/means to close on a property even though they assert as much when they sign the contract.