In an HOA community and very well maintained.

if you have the option to be the Bank. always choose that route unless this is a home you want to keep and maintain in your portfolio due to promise of large appreciation over time

Pool equipment is all brand new and will be maintained by a pool company, cost is already included in the rent analysis. 

I do suggest you study up on LLCs so that when you do talk to your lawyer you can better describe you r needs and better understand his or her suggestions.

On the other hand, keep in mind that there are costs associated with maintaining an LLC (such as the $800 annual franchise tax in California).2.

Renting is not an option as their finances may not allow them to afford to maintain 2 homes or make 2 house payments.

Not really, most of my tenants either couldn’t afford it or they’d never maintain it.

@Stanley Bronstein  @Jay HinrichsTen years ago Texas changed CD law so it eliminates almost all the abuses, but still maintains the essential element of allowing people unqualified for financing to purchase a property.The law that accomplishes all of this is astonishingly simple.  

Economic theory would also suggest that it would put downward pressure on the supply of housing because the policy decreases the incentive to construct and maintain units.

Im not looking to become the next real estate mogul or set the world on fire but would just like to own a handful of properties to easily maintain and have the passive income and obviously the long term investment itself.