As for S-Corp or LLC just remember that you a group of investors and you need to protect the individuals and I personally believe that an LLC with good insurance on everything separately is your best idea.

If you're looking to grow why not look into taking out a loan against the rental...to buy more rentals?

And it grows from there. 

On the same note, starting out you probably will need a deal first, I recommend finding a deal and partnering with an experienced sponsor, be on the GP side with them and learn while growing your investor pool.

The owner had a redemption period in AL....don’t remember how many years it is.

I'm sure I'm missing a couple others.I remember mentioning this when I first moved out here and how I was genuinely fearful from a public safety standpoint and then a year later October 1st happened :-(Plus on a better note, Golden Knights + Raiders + eventual NBA team (inevitable)...bound to bring an ounce of stabilization in rougher times.

If I remember from reading up on this is you must live there for a year and 1 day, after that you can sell or rent out the property.

They are in outliner areas and seem to be growing rapidly because of their price points and lower taxes

Just remember it doesn't hurt to ask. 

Sometimes it is best to just start small and watch a runaway snowball grow from that.