I need a business bank account that will allow me to track all my expenses easily for an out of state property.  

There are no two ways about it: rigorous due diligence is required.

They make better money and don't require much maintenance.

With the current market, I will not be able to make my required cash flow after paying all operating cost including mortgage, vacancy, property tax, insurances, maintenance cost, no need for a property manager because I can manage it.

You are not required to have a boarding house license in CA.

What requirements do banks look for?

I know city of Las Vegas requires host occupancy but areas close by to consider to bypass some of the city restrictions?  

I have property at the edge of Lehigh U that I thought would be for students when I first started out there. i quickly realized that student housing, especially in the smaller school, is a totally different business with different expectations and requirements, not to mention yearly turnover and parent involvement.

However, the expense should be balanced against the possible resale value.

While you may not make significant passive income renting the other side or the other three units, you can probably cut your living expenses in half or even live for nearly free in a 4-plex.If I had to do it all over again, I would have taken this approach at your age and purchased a 4-plex every year or so with minimal down payment.