They also offer a website builder to create your own website and you can also pay to upgrade and use other tools. 

Any thoughts on writing an LOI, or would you suggest an offer?  

I found the deal on realtor.com, my realtor, Steve helped me negotiate it after SEVERAL offers.

It is important to conduct comprehensive research beyond Zillow; you may want to hire a professional home inspector to evaluate the property's state and repair requirements, as this information will affect your offer.

I am in a time crunch as I assume I can't list and show the property until I have the legal framework established.

Can be severe penalties just like city STR restrictions, maybe $100s/day and legal expenses to force compliance. 

If you can find a legal property, an STR can be lucrative, but be sure to do your homework.  

I have a state license and NMLS in Oregon were its required  same with CA  you can lend money there legally with those license or a RE brokers license which I have one of those. 

Look for people that have owned for over 10 years, and get it from them off market even at a deep discount and do the work of fixing it up and renting it for higher, or if you want to buy on market I'd definitely recommend offering below asking, as most multifamily that hits the market in these areas are tremendously over priced. 

Typically, you can purchase an umbrella policy for as little as $300-600 annually that offers a million dollars of liability coverage.