Looks like I should have asked more questions :) Okay some of the comments are assuming you plan to be the main operator and you won't hire a property manager. 

Who is going to manage your properties?

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

He acts as project manager, sources, finds the subs, and even oversees the staging.  

No property is perfect, especially an older one, but with good management, most risks can be minimized upfront.

Good day Bigger Pockets,I am a real estate investor living in Puerto Rico.My father of 78 years old is declining slowly mentally, and I am going to begin helping him out manage his properties and organize his finances and properties.

Continuing to house hack allows you to expand your investments at a manageable pace and maintain a lower risk profile, aligning with your commitment to your family's future.Our whole portfolio is here, and it all was made possible in the beginning stages by house hacking and equity build.

We are trying to figure out a good split of equity and cash flow since they will likely be putting more down upfront but they live out of state and we would be doing a majority of the management. 

If you had explained this key point up front, we could have saved a lot of time and trouble.

Small enough but experienced enough to have good referrals (the profile pages of QIs here on BP can get you started) means you'll be in good hands since at the largest QIs in the country your experience will be dictated by the sales manager assigned your file and not necessarily a senior consultant.You've had a good experience with yours to date.