do NOT take a long PPP right now unless you have no choice. will be VERY expensive in the future when you are stuck in a higher then market rate. 

Other states will let you remotely but require a license, other states require zippo.

Or does the process specifically require that you close with the cash that you prove you have when you win the bid?

It'd also require you to move to AZ.Another option is to work hard to find an off-market deal that is below market value, which would give you instant equity and get you closer to your four-unit goal.First I'd determine whether you are willing to move, if you are then it will give you a lot more flexbility since you can use a FHA loan.

A trust is a more expensive route to go administratively (mostly amount of headache), but there's a good chance you don't really need an LLC anyway as you may not get the limited liability aspect depending on how you operate the properties.

Obviously, based on my relationship with the company, I'm not unbiased, but most people here on BiggerPockets know that I value my reputation above all, and when I agreed to join FTF as an advisor a couple years ago, it was because I was very impressed not only with their business model and underwriting guidelines, but with the CEO (Matt Rodak) and the rest of the management team.I have no requirement to invest my own money on the FTF platform; I do that simply because I like the platform, like the deals that are being funded and find the returns to be nearly as good as the private lending I do, but without all the overhead. 

Her response was that if it was a student I could only get insurance from one specific insurer that is the state insurance (FL) and they are just as or more expensive as other regular insurers.

@Chris Seveney I agree with your #3 for a few reasons1) housing expense as a % of income has been rising to well aboe long term levels.

For example, you can buy a $50,000 house that will rent for $1,000 a month, but it will also experience significant tenant problems, expensive turnovers, long vacancies, and other costly problems.

I suggest you research cap expenses and cash flow on BP.