She runs a business out of the homes.

It's definitely tricky because you want to be considerate and you are also running a business.

Make it part of your business model and focus on scaling vs managing.

They were “earning my business” by doing an hour or two of extra work.

Most seem to like there to be a business reason for the state you use to create the LLC, either the property is there or you live there. 

We're also seeking to buy a local (Raleigh / Durham) property management company to expand that business more rapidly.

Yes, im not sure about deal sourcing at least at my level because I dont make that much from the investment side of my business right now and I feel there would be a lot of training involved.

I’m pretty busy with my job as it’s a 24/7 industry, I don’t have time to handle aggressively hunting for off market deals however I could still do it with mailers, as I’m in no rush to purchase right away.

Oh I agree with you if that rent will be a business income to live on vs just an unrealized gain.

I am well versed in pretty much every facet of Real Estate: house hack, LTR/MTR/STR, multifamily, and fix and flips primarily.Aside from that I am also (somewhat) a serial entrepreneur, having started and sold multiple business' over the last 15 years.I also meet with 20+ professionals every week, through referral groups, meetups, and just 1 on 1 sessions trying to get to know people and make connections.I would love to chat with you if you are looking to meet people and get more information about real estate in San Diego!