We have a lot of investors that rent space  as Airbnb (limited to 400 units)  and room space to students from a local ministry school, as well as others looking for more affordable options.  

There's options here for all budgets and experience levels. 

If you’re willing to continue to do the bookkeeping yourself, there’s several wonderful options on courses you could take for learning how to do RE bookkeeping.  

What would be the best option for both parties?

Another option for investing out of CA and still close to home. 

There might be other more local options who will, but you'd have to call around.

If you are looking for best appreciable zips where you can also get cash flow then there are several options to consider. 

It can also work if you're planning to do an option, assignment, or double closing, because you're not taking on the risk of holding the property for an extended period, but if things continue slowing down (thank you, high interest rates), you'll want to be very careful about how much you're offering, especially if you stick to the straight flipping model, where you take title to the property and don't make any improvements to force appreciation.

My best options, along with other CT investors, might be Vermont and/or New Hampshire, especially when investing with the understanding that appreciation is not expected.

An improvement exchange is also another option like @Jason Wray said here.