Quote from @Reshmi Naheed: Any suggestions on which city and state is good to buy a LTR property in 2024? 

I would suggest doing a trust if possible, as it provides more robust protections than a normal LLC would. 

Most tenants take me up on the offer and I would much rather pay a few dollars extra per year per tenant than have a tenant at risk of death - especially carbon monoxide poisoning. 

Quontic Bank offers bank statement loans with up to 90% LTV. 

Any suggestions whether it's worth it to go with traditional big law attorneys or do something alternative?

I believe we are going to go with the cash-out refi though he also suggested using a construction loan which would have delayed principal payment period if we thought the rehab process would take a long time.

Another member suggested that I may need to follow Paraguay capital raising laws.

You are going to privately lend an investor on this deal and you will offer them 85%/100% at 10.99%. 

I had a couple of people suggest to me to 1031 my Bay Area SFH to buy an apartment complex or multiple single family/duplexes out of state to "cash flow" better.

Additionally, I offer my clients my experience as an investor as well as my network in order to help them accomplish their goals.