@Jeremy Rameyit is normally suggested to create the LLC in the state it will do business in.You should consult with an attorney to help understand how an LLC will best protect you.

If you have more time than money, then direct real estate is most likely your only choice.The downside is that if someone is brand new like you, they have a much higher than normal chance of making expensive mistakes.2) With syndication/Crowdfunding, once you identify the sponsor you do not have to do anything else. 

https://www.oregon.gov/DOR/programs/businesses/Pages/corporate-activity-tax.aspxYes, this is not out of the normal.  

Our one applicant thus far did not have good results in the background check.What’s the normal amount of interest and number of applicants for a rental?

There's a relatively untested way to absorb some but I emphasize it's untested which a long way from either approved or disallowed.The theory is that if the improvements are less than 10% of the value of the property you are buying and the improvements are things that would normally be associated with a structure (roof, A/C, flooring etc not furniture or a car in the garage). 

The document you provided will not be used normally.

Is this normal? 

@Lynette Gryniak do you have any line-item invoicing or receivables documents that indicate that this is money generated from a normal business transaction?

The challenges are that you need to start showing the place earlier than normal rentals.  

Some might take a flyer on something risky if cash is small to them if they lose all the capital but has to be VERY,VERY enticing to them to stray away from their normal investing procedures.No legal advice given.