California does not recognize series LLCs.You also want to look at whether a pass-through entity helps your bottom line and your taxes.

Appreciate any help.

Let me know how I can help.

You should look into DSCR Loans - many investors like yourself typically move to this loan product once they max out with DTI/qualifying conventionally - a bit higher in rate than conventional mortgages - but no DTI ratio or tax returns/income verification makes a much easier qualification process and LLCs are 100% ok (even as sole owner) and actually often preferred.PS - published a 10-part article series here on BP last year on everything you'd want to know on these loan types - sharing links below, hope it can help!

message me and I'll help you structure it! 

You may also have the owners stay on {part-time} for a season or two to help train the new management (you).Acquire the hard assets:  In this scenario you would only purchase the real property and those hard assets (docks, boats, etc.) that you deem would be beneficial.  

For example, will your turnkey provider help you get your rental approved for Section 8?

Both markets have a low barrier to entry and there are many professionals here who would be willing to help you invest out of state.I hope this helps!

Grants/government assistance can be a great way to get help with the downpayment, but be cautious as some can make the loan terms worse for you.

The potential ability to add 6-8 additional homes (to rent or sale - still evaluating options), under the new building codes to help spur more housing is the most intriguing thing about this property.