Buildings require maintenance.

Also are appraisals always required I know that some companies used BPOs.

By my understanding, Fannie/Freddie requires that you "intend" to live in the property for one year.

California Civil Code Section 1710.2 Well, it's required, but it's not:"No cause of action shall arise against an owner or his or her agent or any agent of a transferee for not disclosing facts pursuant to paragraph."

The money needed for these properties would regularly require a greater than 8% return in other investments to receive the same cash flow if paid off.

I will be required to travel to take care everything.

These buildings are zoned like hotels and have all the requirements you need to rent and make money accordingly. 

in addition, if you have a flow of off market properties, these often require work and/or have risk, they typically have better cash flow than the MLS market.  

The rates don't make sense for refinancing, and I don't believe in selling unless I can move the money to an investment that moves me closer to my goals or life changes require me to sell.

Most banks may require an LLC to open a business bank account.