A 75LTV Cash Out on that deal would be about the same and there is no lender origination fee, only the $1600 UW fee.Ohio has recently updates some of it's laws in terms of PPP. 

As long as you give the proper notice to the tenants, you should be fine. 

Current lease term (expiration date, month-to-month)7.

Anyone have insight on these being better markets for traditional long term rentals vs. 30 day minimum extended stays / MTRs?

Your LP’s will need to be informed they are behind a hard money lender, what those terms are and the risk involved with being behind that hard money lenderDepending on the lender they could require you or one of the LP’s to also personally guarantee the loan.In most states if you have more than one LP then you would need to register the offering with the sec (most likely as an exemption) but docs and setup would probably be $10k.Can it be done yes, is it typically done for a deal under $1-$5M, typically no

Presumably my gain will be much (less) on the second sell transaction in CA.Are there any regulations on how long I must hold my 'new' CA property before selling it (and going out of state) to avoid CA taxes on first transaction? 

I would be wary of buying a home in a residential neighborhood in ABQ with the goal of having a STR: Only CA rivals NM in terms of economic governmental tampering.

I was thinking about an strategy of doing Cash Out Refinicing putting that money in the stock market (distributed in ETF and some "safer" stocks) to get around a 6% anual return (estimating that low because is the "standard" average, however my current stock portafolio has a cummulative return of 66% in the last 4 years).

I would not advise working with any PM unless they are able to provide all of the necessary reports for the property - Cash Flow, Income Statement, rent rolls, T12, etc.

You may be able to utilize air dna projections, but, this will come at a rate adjustment usually versus long-term rent.