Below are some resources.Books and podcasts are good for learning.

Also, let’s say they are late with the rent every month until the lease expires, but they pay.  

This may seem like a naive/juvenile question to someone of experience, and I'm new so here it goes.What positive/negative sides are there to having a lender who isn't local to the area I'm looking to purchase?

Quote from @Sonia Arreguin: I say it's always best to stick to the lease.But there are always exceptions. ;)

Both of the prior answers are kind of right but not really.The best wholetail is not just a quick turn.

Are there any potential problems with investing as an LLC and not as an individual? 

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.

Those are some crazy demands in this market.

Here are some strategies I have used.

11 mobile home pads plus one SFH.10 pads are occupied, plus the house currently generating $4850/m in lot rent & house rent.