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.

However, we just started STR property management and it would be very helpful/look more professional to have the ability to esign contracts, autogenerate payout statements, direct deposit payouts, ect.  

I am in contract for my first duplex and planing to have inspection scheduled this week.

They're the kind of pros who can dig into your plan, give it a good shake, and offer smart advice on everything from portfolio strategies to tax stuff.Sounds like it could be a game changer for you, right?

Given the circumstances, I’m unsure whether to proceed or back out of the contract.

The distance has made me get smart about managing.But, I know the area since I have been going to the building a lot the last few years. 

They will just wait for you to cancel the contract and offer on the listing themselves. 

We are currently under contract on one of the lots.

I was hoping someone had a referral for an investor friendly attorney who can help with contracts specifically dealing with wholesaling both MF and SF.  

I'd also reach out to the tenants and let them know to direct the payments to them though any smart tenant would only do that after talking to the PM.