I found myself in an ironic situation of always aspiring to be a guy that gets into REI with the goal of creating quality.

Also it creates problem, lets say in one zip code we had 100 homes, i would say 80% of the settler in that area would not even able to pay the mortgage if they have to adjust to today's price. this would create unique problem where they could be cash poor but having large equity (think like baby boomber that purchase 125k homes in santa clara in 1981), since they can no longer afford to pay mortgage, hence they prefer to sell, they can get 1-2 mil easily and  then rent or buy elsewhere, live in florida for sure.

As soon as I create the LLC, I go to the bank and open a checking account, savings account and apply for a credit card in the name of the LLC.

If you can find one, that would be my first choice, but I would not use the HELOC for a long-term investment.

One option eliminated makes the choice clearer.

Particular neighborhoods of choice: So what are the particular areas I should focus on that is in a decent neighborhood and gives me good returns? 

They are a Purchase & Sale Agreement, Title Report, Power of Attorney, Disclosures, Closing Statement, Payoffs and a business card to a good attorney to get you out of the mess you will create if you try doing this on your own.But use somebody, like us, that actually knows what they are doing to learn this.

Of course I plan to have the cousin apply just as any tenant would, but would you create an entirely new lease?

They created a safe space for my tenants to screw me lol On the 5th of last month, we sent out seven 7 Day Notices.

Is a project manager typically a choice to do instead of a general contractor?