You need experience more than anything right now.As you grow, the specificity will become more natural once you understand what area you can add value to.

We chose apartment syndication over retail because of recession-resistant nature of B and C class value-add type projects.  

And if not is there a better alternative?

Or is there alternative financing routes I can take?

I wanted to make sure and check if there are other alternatives out there. 

Any alternatives?

It’s usually something they take on as a necessary evil given its nature of importance for out-of-state investors.”

Yes, there are alternatives that will be legal in your state.

The "does direct mail work" thread was so much fun that I thought that we should chat about the alternative.

If this was a standard rental process then yes, I'd recommend going through the process of applications/screening steps, a background check, and then require the deposit; since it sounds like the house is being rented to transient workers though, the very nature of the work situation calls for a bit more flexibility on the renting end.