For my local PA market:Pros:-Great cash flow-Good local laws-I grew up there and know who the good tradespeople areCons:-It can be harder to self-manage when you're not there and most PM companies suck-It can be tougher to get good deals when you're not physically there and the competition isI keep buying property in my PA market and so I'll be moving back there to be my own boots on the ground. :-) Plus it will be easier to secure more deals. 

Non-QM products will allow you to keep the transactions within your LLC: DSCR, bank statement loans, asset utilization, etc...

Before the interest rates make another jump, I want to do something productive with the equity in the house.

Still decide first what you are investing in, then speak to a mortgage broker (not a bank as they follow conventional guidelines and usually don't offer DSCR based loans) for best asset based loan products for your asset class.

For security I like Ring products as they are low monthly costs ($10/month), yes the equipment costs up front may be a few hundred dollars but keeping your monthly costs low will increase subsequent cashflow, traditional alarm companies can be 40 to 60 a month.

No wonder the loan officer told me it’s overwhelmingly popular product and always here it amongst investor! 

. * the added trade references will add credit profile depth, as will uploading your financials* your deposit activity and use of bank products (business credit cards) shows ability to repay* bank rating is formed after 90 days of deposit activity

I have seen some loan products for a second home that only allow it to be rented for 180 days as well. 

As you mentioned, this also opens up the option of using a low down conventional loan product vs FHA.

Built after 1976, you filed a 433 or we get you "doing" the process, own land, full doc, do have a few NonQM products as well, can do...