My goal is to live in the home during the winters, maybe 3-4 additional weeks for vacation, then rent it out to help cover the mortgage the rest of the year.  

Plus, we like to make it fun so there will be 2 evening events, in addition to all the daytime sessions.

You can later transfer the property to the LLC, but be aware it might trigger due-on-sale clauses or additional costs.

You will likely need to rehab for any strategy but Co-Living will be more bedroom additions which is less cost compared to kitchen and bath remodels that are more needed for furnished rentals. 

Here is one I found in about 30 secondshttps://www.metalroofingscrews.com/products/hvac-line-set-co...

It's a relationship game more than anything, so if you're building strong relationships with them and providing a consistent product, you'll be golden.

Additionally, for the AR llc, do I need to register the LLC in California as a foreign company?

That could be achieved without spending an inordinate additional amount in cap ex; In fact all I have seen had these items in common1.

Additionally, I really want to dive into the property management realm and am passionate about connecting and assisting other Veterans and Active Duty. 

This doesn't replace the need for a MSA that will capture additional clauses needed on a Contractor-SubContractor relationship, this is just a project specific form you would use in addition to the MSA (prepared by your Attorney):This template is for informational purposes only and does not constitute legal advice.