You need to invest both money and research over time, which includes reading a ton, like @Jose Matuk mentions.

https://www.marcusmillichap.com/research/researchreports/reports/2018/01/05/2018-us-multifamily-investment-forecast

I have friends in the area, and I have been researching the short term rental market there.

I will take a look inside, see what the state of it is and do some more research. 

Assuming your not doing your own servicing then the majority of states you do not need to be licensed in but you need to register your company as a foreign entity.NMLS is probably the best site to research it but if you let people know what states your interested in then ask around.

My thoughts are based on my experience Selling/Managing Residential Real Estate and my research/observations into the field of Real Estate Investing.If you are interested in Real Estate Investing I would suggest you research the different types of Real Estate Investment types and find the type that matches your budget, experience, goals, risk tolerance and energy requirements (among other self selected criteria).

I am visiting soon and will be starting my research but anyone who is familiar with the area that has any knowledge or contacts that could help would be much appreciated!

I guess I can use this to explain what plan I have formed based off the research I have done.

The use of a particular type of deed typically raises concerns for a buyer because of what a prior owner is guaranteeing or agreeing to assist with or not, but like Greg said, if you have a title insurer willing to insure yours it's because they've done their research. 

You did not get ripped off.If you did your research in advance of hiring your contractor then you know the answer.