For example it is my understanding that Big Bear allows it but whoever is managing the property has to live within 1 hour of the property. 

I want to start investing in real estate in America in the near future, since I am not in America, I live in Europe, more precisely in Serbia, any advice and contact will mean a lot to me.

I'll second notion or another living wiki-type platform if it's just notes you're after, or if you're looking for something more task-oriented, Asana features project pages and other functions that track data and next steps.

I live in California.I also wanted to know if there was anything you wish you had known before setting up an LLC/IRA and why you chose to set one up and has having one met your expectations?

If you are not planning to live in the property, then you are not going to qualify for an FHA loan.

I also have registered my "rental company" with the state of Maryland, where we live. 

Quote from @Kornelius Friske: We have a STR located in peoria AZ. it's 6 beds (garage conversion) and about 3900 sq ft in total. our energy bill last month was $450 and has been hovering in the $350-$450 range since we went live in august.

My sister and I have done all the leg work in finding where the 2 individuals lived at. 

We overthink real estate...Just find a place that people with options want to live. 

And you probably need money for living expenses.