For example it is my understanding that Big Bear allows it but whoever is managing the property has to live within 1 hour of the property. 

I guess Im not really understanding what youre looking for.

You'll want to look at their reviews, how they safeguard your funds, understand what their fees are, and how responsive they will be to your questions (do they work 9-5 only). 

Let's cut to the chase:  "A tenant is obligated to follow HOA rules, as they are considered residents of the community and must abide by the same restrictions as homeowners, even though they do not own the property; the landlord is responsible for ensuring their tenants understand and comply with the HOA rules. 

Give it a read, and you'll have a fair understanding of the process. 

At 19, your friends may not understand your drive.

If they understand they need to leave and discuss honestly what they can do to make that happen then you are both working to the same end.

It is my understanding that the new owner will have the house at the cost basis of my purchase price, for calculating capital gains taxes or depreciation.For gift tax purposes for you - FMV.For capital gain tax purposes for the recipient - your original basis/purchase price 

I'd like to simply buy a turnkey rental and make cashflow but I understand that's easier said than done and turnkey properties likely won't provide me ideal ROIs.

Detroit, all day.Note, I am biased but I also understand facts.