I don't know how extensive the AC tune-up is that they provide, but to keep the AC working well year after year, and get the gutters cleaned out so water doesn't run into your foundation, I think that is reasonable. 

I have been doing extensive research to learn the basics but just not sure where to start or the “right approach” to take. 

When I conduct my walk through the day of closing I leave a document indicating I will be in contact and it informs them where rents are to be sent.  

Have you done a rehab this extensive before? 

Conduct a lot of due diligence.

This article runs over that in more detail: https://www.biggerpockets.com/blog/effectively-conduct-joint-venture-agreements-as-a-real-estate-investor/Definitely worth looking into with whatever attorney you chat with.

By “project” I didn’t necessarily mean a major rehab although we would be open to properties that require extensive rehab.

Regarding what happens if you leave your job with an outstanding 401k loan: Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).

They have an extensive vendor list including many investor-friendly financing companies that can help you with your problem.

If you buy a house and do extensive renos, you are unlikely to get your money back on those.