Ideally, you blend STR with your MTR strategy to fill the gaps. 

Technology advancements such as email, phone calls, skype has enabled communication with a remote CPA to be seamless.

I want to be as paperless and seamless as possible. 

Plus use a 70/30 Cotton/poly blend in a percale weave and you will have an easy time keeping them nice.

It's completely seamless for guests, and the office handles everything.

If you build up a huge business and want to leave down the road, you have been branding yourself as the Park Mason group/team/etc the whole time and you can make a nearly seamless transition.

In an audit, they will look for reasons to blend your activities.

It's actually very similar to my hometown of Winston Salem, NC....a very strange, yet balanced, blend of both college and lower-mid income rental potential.

He says buy assets, not do-dads, avoid consumer debt and debt to by assets is ok, so long as it is used responsibly ie you do your due-diligence, analysis & home work.So, I would say that for most of us on BP, and me personally, I take a blend of the two.  

If assets are going into a trust with an administrator you'll need to find one that will accept notes as they usually want marketable assets like stocks and bonds.Another option is paying part of the property value with discounted bonds, zero coupons, blending note income with appreciation of the bond as a balloon payment.