It looks like it will be very time consuming and expensive over the next year for an out of state owner.

Therefore they have become JV partners, after being involved for a few months a couple of them have told me that this business is way too complicated and time-consuming, therefore just keep them periodically updated and let them know when we make some money, LOL.Case in Point.  

Currently that's my only source of consumer debt outside of my cheap car and it'd be great to have that off my shoulders.I've considered renting out the condo down the line, but the #s don't really add up to me and more than likely would be 4+ hours away from the unit in the next few years so would need a property management company which makes cashflow that much worse.

The action here is all in the cashflow.Fill out "Individual Rental Income from Investment Property(s) (up to 10 properties)" here.If the bottom line net cashflow number is 2.5x your personal housing expense (typically PITI on your primary residence) and you have no other consumer debts, then assuming no overlays you can get vanilla Fannie loans.

The big old kicker is that i have about 45-50k in random consumer debt that i would love to just pay off and free up so much cashflow to save, invest, vacation etc.

My belief is that the legislature believed that a lease term OVER 1 year constitutes price stability for the consumer/renter, and is therefore not regulated by PC 396.

That sounds very complicated, and time consuming to go through after many years.

Hello @Doug Scroggins, I am in the Tulsa area and form my research there are quite a few lenders and banks that will lend to consumers for rental properties with a good enough credit score.

What tools can a consumer/invester use to ensure they will be protected if disiaster strikes? 

I have been consuming content at a massive rate and have a long way to go before I can jump into my first deal.