STRs and MTRs have higher cash flow than LTRs but they require more work. 

, I’ll file a series formation form with the SOS (not sure which form yet, and apparently it’s suggested but not required?)

This requires some effort and not just relying on a reference from someone or a quick glance at their fees.

The original wood seems to be in decent shape but would require a lot of labor to remove the aluminum & strip/clean up old lead paint.

Per lender's requirement, the title is held by individuals as "tenants in common" rather than LLC.

To maximize the number of transactions you’re involved in you will need to:Be Top of Mind when they think about moving - which requires consistent reminders.Be seen as an Expert – which requires a consistent message and Evidence of Success storiesGain their Trust – which requires communicating integritySo, start out by listing everyone you know in an Excel spreadsheet.

However, transferring your current home into an LLC may affect financing, as most traditional lenders require it to remain in your personal name for a home equity loan.

Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

The tradeoff is the 12 month seasoning requirement on C/O refis, you can only close in a personal name, and you must be able to qualify using your personal income and debt.