Hey Shannon, When yourdeciding whether to form an LLC in the state where the property is located or manage it through your home state LLC involves weighing several factors.

I am looking for an affordable property management software that will also help me manage loans made to others.  

Material Participation Activities:Property Maintenance: Engage in repairs or construction work on the property to maintain or enhance its condition.Contractor Management: Oversee the hiring and coordination of contractors or handymen for property-related tasks.Tenant Interaction: Communicate with tenants regarding lease agreements, inquiries, or property issues.Property Acquisition: Invest time in property search and evaluation processes, including visits to potential investment properties.Property Management Tasks: Perform activities typically handled by property management companies, such as rent collection or property inspections.Non-Qualifying Activities:Educational Pursuits: Time spent on real estate education or training programs does not count towards material participation.Investor Hours: Hours dedicated to investment analysis, financial planning, or portfolio management are not considered material participation.

It doesn't do any good to invest in a strong market if you don't have anyone to manage it.

.- VA: with the remaining $200 or so, I'd invest in a VA to either help you make calls or manage your database.

We manage property here and can help you come up with a realistic rent amount before you buy.  

Another option, that I say good results is listing in zillow, at the time it was free to do it there.In my case, I have negotiated with my realtor a lower one month commission to a 75% of the first rent, and he manages all the calls, tenant verification, and showing.

They have a special meeting just for landlording that meets once a month and is run by a local Property manager that operates over 400 doors.

Later this month, I'll be visiting the city for a couple of days and would love to meet anyone who can help me kick off my investments - agents, property management firms, wholesalers, and contractors. 

I self manage my units, which I love doing, and therefore my tenants have my phone number for when there is an issue.