The properties we operate are all in Indiana. 

Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this  for you. 3) I can't speak for the area so no comment there4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need. 5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties. 

Other than that, you can prepare a simple notice letting them know that you thank them for applying, however they did not meet the criteria, and you can choose to tell them it was based off of their credit, and or background or simply just say that the minimum requirements were not met. 

I learned from Dave, how to talk to potential investors, how to build rapport, how to answer questions and explain the company’s strategy and operations and the secondary mortgage industry.

Many companies have left the state entirely.Insurance is a simple math game. 

Most people don't know how to use a wood burning fireplace correctly - operating the damper, not closing the damper until the fire is completely out, going to sleep with the fire or coals still burning. 

Have you taken the time to search AirBNB and VRBO in those specific areas to see how many STRs are operating?

I currently operate a few STRs so have a good understanding of that aspect although they're all located in touristy locations.

I see a conflict of interest in your role as fund manager and principal in the “operating” company.

Does the operational company already exist and have income history?