Go to Danny D'Angelo's YouTube channel.

You'd have to subdivide most likely to build two homes (never heard of a residential zoning that allowed two homes on one lot, but I guess its possible).I guess you could keep ownership of the land in a LLC and sign a 99year ground lease to each of yourselves so that the improvements are your personally, respectively.  

This post is confusing, when you're referring to lots, are you referring to "land" or improved properties, ie with structures/homes on them?

I am not going to use the money to improve the properties. 

STR it if you want max flexibility in the short term and intend to slowly improve it w/a mix of personal + STR use over the long term. 

I’m receiving advice and help from family members, the agent, my financial advisors, and I’m reading books, watching YouTube videos, listening to podcasts, reading BP forum posts and other websites, etc.

She's now looking more seriously at getting a mortgage on one of the houses, given a significant amount of capital improvements she will likely have to make in the near future.

My seller financing contract strictly forbids residential improvements and also states that the property is for recreational use only. 

I switched over my 3 single family homes to them last summer and it was an incredible improvement from my last PM. 

Keeping it broken out by vacancy, maintenance, capex, and other categories does nothing to improve your performance.