Fortune 500 headquartered companies always help.You can find a dozen or more markets, primarily in the Mid-South and Rust Belt, that will meet these criteria. 

If you are looking to keep your townhouse as a rental and find another primary , if you have kids in school , I would recommend Severna Park , Arnold , then Pasadena . ( preferably a community with either a pool and or water access .Nothing in this county pencils out as a rental unless you look in Glen Burnie and North . 

@Sean Yang Almost all of my clients prefer to go "paperless", in that we use cloud sharing services to review documents.

Someone recommended a small lending company to get a mortgage for a buy and hold property.

But we also do occasional drive-byes and annual inspections to see how the tenants are caring for it and hopefully catch anything that is potentially damaging before it gets real bad.Some of our clients prefer to pay for the lawn care and we charge a lawn care fee to the tenants.

Of course it is very important to do proper due diligence on the investment and the operator.As far as self-directed IRA there are number of companies offering such service, this topic has been discussed here on the forum many times so you should search using this keyword and learn from those discussions.

Just outline expectations and roles, and what each of you guys are going to do, and how properties will be acquired and how they will be disposed of, and how and when money will be taken out of the company and you should be good.

Do you use a property management company? 

I am a preferred resource for a few folks in the wholesale lanes who meets clients that need funding.  

I don't think that I'd personally trade that in for STR or multi family, the hassle of people is much more than dealing with the hassle of a warehouse business at least in my mind.but if the cash gets your overall portfolio to a place you'd prefer more then go for it, but personally the current deal sounds awesome.