Nobody’s going to send you an email saying you need to move out of your home in 30-60 days because they are selling to someone else who’s going to live there  this alone is a big value to many people  stability  Nobody’s saying you have to buy it.

This has caused much confusion to many people over the years

We talked to some people (banker, pm, etc) about a weekly rental property but seems it would make more sense if you wanted to use the place yourself and not too concerned with making money.

For your first time hands off deal you might look for something else.

Thats the first step... step 2 is the hardest which is to keep in touch with everyone.This is not to be mistaken with the act of printing dozens of business cards and handing them out to everyone you shake hands with.

If not, this is going to add stress to your marriage and your relationship to your children, and typically significantly more than most people expect.Your house is inevitably going to be damaged and changed during the time that it's a rental.

But the same argument people use for self managing, (nobody will care as much about your property as you.) is definitely true of your accounting. 

Some lenders have limits on the maximum loan amount of a fixed second mortgage or HELOC between $250-500k although many have unlimited cash in hand but still based on the loan to value.

When people mean by bringing cash to the closing is that you must have funds to close -- whether they be from your own pocket or someone else's pocket.

(Zillow data) I've been doing open houses for an hour twice a month, and have had 4 applications so far from people who went.