With the numbers you provided above, you will have to ensure you have healthy reserves.

I wouldn't imaging the state where the entity is registered makes a big difference for most buying and selling purposes as long as you can provide all of the required documents for title purposes.

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

While it provides opportunities for buyers who may not qualify for traditional loans, it's important to ensure affordability and long-term sustainability.

Lease: I used the lease provided by the Bigger Pockets podcast.  

If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.

A quick internet search suggests that foreign national loans can provide up to 75% LTV.

(Even went beyond the second page of Google.)I have an investor who wants to partner on a deal by providing a loan for the down payment.

Secondly, short-term rentals provide flexibility for owners, allowing them to potentially use the property themselves when not rented out.

I would recommend joining ULI (Urban Land Institute) They have a network of people that can provide exactly what you are looking for Remington is it just ULI dot com ?