Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Leaving you to move and store their items if required by law, clean and repair, etc etc.

Each lender gave me a different answer about the terms of the loan such as required down payments, max loan amounts, and a few other things.

And I generally require a sponsor that has full real estate cycle experience with little to no money lost, low leverage, high skin in the game and reasonable fees and promotes.However, other investors will look at these deals as bad/too boring for them because they are more aggressive and not concerned about the risks of default, refinance, interest rates changing etc.

We need an experienced deal sponsor to meet Fannie Mae requirements as well as net worth and liquidity requirements. 

Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.

On the surface, it appears to be a straightforward role, but it becomes far more challenging when faced with issues like non-paying tenants requiring eviction or broken systems that haven't been properly followed.As a self-managing property owner, it is absolutely doable—but success depends on treating it like a business.

Here’s the context:I own a rural property with two rental units:A manufactured home from the 1980s in temporary status with the county (meaning it can’t be replaced), which currently rents for $1,350 per month.A one-bedroom permanent residence that rents for $1,300 per month.My monthly mortgage payment is approximately $1,200, and cash flow is crucial to me right now.

It wouldn't work without requiring the down-voter post a response of at least X number of words on why the post deserves a downvote.

I just asked a title rep in the area and she says they wont handle a close even as a transaction coordinator unless they write a policy for it which they cant do on a manufactured home on a rented lot.