So I wonder if there is a "canned" operating agreement that I could use for this type of purpose.

I don't understand why the sellers are so motivated, which is what my agent told me.

So, for MD, this seems to fall under usury law, which makes sense. 

You can set specific criteria to spot underpriced homes, distressed properties, or anything that’s flown under the radar.I know several investors have had more luck with using water shut off lists, so while it's more work, that might be an even better approach.One thing to note is that Privy compiles real-time MLS data and integrates public records, so you’re not just getting a snapshot of the listing status but a full picture, including owner history, property condition, and any price drops over time.That said, if your focus is primarily on expired listings, I'd also suggest checking out RedX—they’re known for their niche in expireds and FSBOs.

So I suffered for a long time financially.

When you keep a 1-2 bedroom apartment for yourself, usually the numbers pencil out to something like $4000 mortgage, $2500 rent, so your net rent is $1500.

I'm a long time professional property manager and I'm not afraid to deal with delinquency or other legal matters myself, so I only pay for the services I want, like screenings and the tenant payment portal. 

So I have a slightly unique situation (At least I think it is) but I recently assumed an FHA mortgage.

So a couple of books by Frisco based Craig Hall. 

You can be an agent absolutely anywhere so that shouldn't factor into your decision.