Since there are often different entities, there are different skills and systems needed.With that said, I can tell you are definitely better at building systems that I am (I have built up some best practices, but they mostly reside in my head).

Someone on BP may have a different suggestion on the later.

It should also be noted that there is often a difference between the borrower and the guarantor.If the loan is made to an entity (LLC, corporation, trust, etc.)

I am interested in learning more about different markets in Arizona (Phoenix, Tucson, and surrounding areas). 

I'm just learning about the different types of loans and how they work so please correct my thinking if I'm not making sense.

However, it's important to keep in mind that shorter seasoning periods often come with different terms compared to a a cash out refi with 6 months + of seasoning.

Quote from @Chas Lumley: Hey all,I'm looking to make an offer on my first rental this week and was wanting to get different inputs on LLC vs Umbrella policies.I will be using a conventional loan and I was told by my loan officer that I can not buy the property under an LLC, but I could transfer to an LLC after acquiring. 

If I can get 2 different renters in before Jan 1 2025-is still possible by obviously getting a cost seg.Also, would all of the house hunting, going out to see properties, research (calling city for license/map searching) and buying the furnishings count toward the 1 of 7 qualifications IRS demands in addition to the 2 Airbnb bookings-preparing home, cleaning, set up etc?

If they are on different tax parcels, I will use DSCR for the non-primary deals and then FHA or UDSA (assuming it is rural) for the owner-occupied one. 

Buying some rentals is a whole different animal than running a business.