Where I had issues was during construction and getting the checks from the lender.

You’re going to have a legal local lease made up, research the local laws, make sure you don’t even appear to discriminate, figure how/where to advertise, do background checks and so on.

Your entity will need a name and you can check the SOS database to make sure there isn't someone out there already using the name you choose.

Someone calls you to check out the car, but its booked out for the week.

I’ll still check carrot out though for future reference if it doesn’t work with real geeks 

I will check him out!

Long-term rentals have their own set of fixed expenses such as background checks and optional property management, with variable costs like vacancies, evictions, and utilities, and unexpected expenses like tenant damage and unpaid rent.

Wanted to check if that is true and if it is just lender specific or are there any legal laws around it.Thanks

Check with your state real estate governing body to find out what they require.  

California has some options but you should check out the Oregoan Coast.