Once you get around 50 doors, then I would look at documenting policies and procedures.

I think it's great as it includes warranty information for appliances, type of hvac filter, light bulbs and general maintenance etc 

Proper documentation ensures you’re prepared to substantiate your claims.Federal REP or STR material participation allows you to deduct rental losses against active income, significantly reducing your tax liability.

google "all inclusive Deed of Trust" fantastic CA document we used all the way back in the early 80s If I'm not mistaken though a wrap would require the 2nd buyer to also agree to financing terms; which would be the same as me (the 1st buyer). 

Has anyone else received this type of response from Obie?

Here's what I'd do: Create a Word Document or Google Document Titled "DRAFT: Life Vision" do not use a template, do not pay some guru for this.

However, there are multiple documents that emphasize that all 1245 property determinations must be factual and supported by corroborating evidence.

Gather documents.

but careful planning and documentation are essential""...making sure that your wife understands what she needs to do to document her hours and activities."

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