Conversely, in both Subchapter K and RULLCA there is reference to conformance to state statutory schemes where there is no valid agreement otherwise.Thus, a key benefit of an operating agreement is a novel network of rights and obligations between parties, one that would be more suitable than under default schemes.Operating Agreement as Risk ReductionI've seen plenty of people form partnerships without a written or oral agreement as to the rights and obligations to the entity and other owners.But keep in mind operating agreements establish consensual relationships, validate them as binding, and dictate when they are enforceable by one party against another.

Should we focus on vacationers or traveling nurses, snow birds, or all of the above?

If your situation allows you can always get roommates and have them pay portion or all of your mortgage.At this stage the key for you would be to educate yourself, pick a farming area where you feel comfortable investing and living, network with local investors, wholesalers and realtors.

My recommendation here would be to have internet installed in the property for $45 per month, and then set up several cheap WiFI cameras in various or all rooms of the property. 

Fixer up or all cash plays.

This service gives you the information...you can order one report or all the reports.  

For instance, inadequate/improperly designed water diversion systems can cause major problems (e.g.; rot, masonry degradation, foundation settling) that won't emerge for several years.

I used PMs in my first couple rentals until I realized EVERY ONE of them is either:1)  Encouraging Tenants to request repairs or event improvements2)  Upcharging repairs/maintenance 3) Taking kickbacks from the service people they dispatch (Or all 3)It sucks to manage your own rentals, especially if you are in another state or city.  

I can see that as being very concerning or all out panic if they feel that rents wont come in. 

Not sure of your exact circumstances, or all the rules in Missouri... but that is how it works in Florida.