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Of course, with all things, the answers to all these matters will depend on the circumstances.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Important - Make sure you know the local restrictions (if any) regarding STRs.

If I recall the yard was empty, This was many years ago in Cleveland Heights 

Yes, if anything its easier since no residential restrictions. savvy participants.Harder because you have to know how to present a property, typically have to spend on chase costs prior to assigning.

You need to be careful with prequalifying people these days as various cities and states have laws that can restrict that. 

Even when wholesalers “kinda’ admit to the seller that they are going to “wholesale” the property, they still tend to mislead the seller by talking about “financing partners”, “equity positions”, “mentors” “membership” etc.So, various states have, under the banner of consumer protection, enacted legislation to restrict the use of the “wholesale” transaction in RESIDENTIAL OWNER OCCUPIED real estate - note, not commercial property and not residential when the transaction is between 2 investors. 

I am not in an HOA so there is no rental restrictions.

Are there restrictions on credit reporting for CFDs versus mortgages/DOTs.

The property is located in Cleveland Heights.