That framework distinction interests me personally and then allowed me to explore what I hope to set up, which is a "mother" LLC that can then be a member of other LLC's, VS you being the member. 

That’s an important distinction because one is very passive and the other not so much.

I believe there is significant distinction between two types of medium term rentals.  

I was hoping this was different than 2008, I do believe so as it appears that the factors contributing to the shift in Las Vegas that you outlined in your message are distinct from the housing bubble in the late 2000s.

I draw this distinction because many of the issues you will encounter with Section 8 tenants are common across lower income real estate investing in general.

The valuation and market value of a multi family property differs from a single family and you want someone that understands the distinctions if you go that route.

The wiring originally installed that house was designed to run a few light bulbs and perhaps a radio or two (it's not uncommon to find a single circuit per floor or only 2-4 for the entire house) and not to handle today's array of electronics.The house of that vintage, the presence of asbestos in its many forms (pipe and duct wrap for the heating system, possibly mixed in plaster, floor tiles, exterior siding, etc) is a distinct possibility.Where I do not have experience is in local insect damage - I know you have termites and undoubtedly carpenter ants (or a close relation).  

The distinction I usually make is that a structure that has zero shared walls is detached, a structure that has one shared wall is SFR Attached, and a structure with two or more shared walls is considered a condo.

Ask them if they're de-scented.

We have not seen title companies require disclosure to the seller on assignment deals from private sellers, and transactional funding allows for separate distinct transactions and funding where profit need not be disclosed to the seller or the end buyer.In order to fund REO's on a double closing most require disclosure to the seller that the buyer/investor is an investor and language such as "I am an investor and intend to (or reserve the option to) resale for a profit" has been considered appropriate disclosure.