I as a landlord am a private individual, not the government.... so an inspection of my property by me (the owner) is reasonable.

STR owner here.

This is why I don’t buy properties owner financed with existing notes.

I only have two properties so far, one in Texas and one in Louisiana, so I can't really compare to the rest of the country yet (I haven't looked into that), but my smaller property in North Louisiana is 1000 sq/ft, built in 1972, pretty much a complete rehab by previous owner, not in a flood zone, is appraised at 78k and the insurance is $612 a year.

The leases are all in the name of the PM company which has a standard PM agreement with the owner i.e. your series LLC.

The 80 yr old owner had a bad property manager on site, he cleaned every tenant out and started over with 15 new tenants, with only 4 available units, and slowly working on the rest. 

The owner cannot rent for the first 2 years of ownership. 

The only decent advice I can give you is try to talk to as many brokers and owners of similar properties in the area as you can. 

I think an active investor would know the market more than an owner occupant that isn’t constantly searching for deals.

Owner carry may be more available than home or business structures.