I was just hoping to transition it into LTR and since we have newer furniture that fits the space well, it just seemed a shame to sell it all to do an unfurnished LTR, but again, I'm having a hard time understanding how logistically some of the details are worked out with that with furniture involved in an LTR.Thank you again for the support!

@Philip AndersonMultifamily properties in Ventura can perform well due to the area's high rent demand, but inventory can be tight.

You have to walk these properties, understand where the hidden costs are outside of the spreadsheets, and understand the geographic appreciation trend and migration and population as well, none of which will be in the questions you are asking. 

My situation currently is I have 1 SFH rental that is owned by my LLC and doing well, and also I'm doing a live-in flip on my primary residence.

Someone can make some money there, but I think you really have to know the city pretty well. 

If there was no appreciation, there is no need to do a 1031 exchange.I have never been a fan of condo's as you lose some control over the investment - You have no control over the monthly maintenance fees, you may not have control over who is on the board, you have no control over special assessments.I wish the investments turn out well for you!

@Gary Abrams A cloud based solution would work really well in your scenario of having other family logging in and helping with management. 

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.

If this is a one-off issue and they generally handle things well, maybe give them a chance to make it right.

Quote from @Brittany Minocchi: I'm a bit farther north, but I've helped a couple of people with loans in that area - the properties seem to be working out well for them!