In MHP's they are regulated like cars rather than real estate, but the renovation is mostly the same (sans foundation issues, and structural issues if leave the outside walls intact).

Once you have this team in place, you should be able to invest in any market confidently.As for picking a specific market - I would go after one with an increasing job and population growth.

@Jorge VazquezI would argue because public companies are regulated by the SEC and have completely different level of compliance than giving someone money to invest in real estate.

If you think they are dealing you need to make the late night visits uncomfortable by dealing with any specific lease violations regarding quiet hours.   

Is there a particular site thats good for searching multi-family specific?

We actually have the option to STR on a few of our properties and decline to do so because we make more money than an LTR on our medium-term rental with a lot less work than an STR.The pros to medium-term rentals: high occupancy rate, no local regulation issues if you are 30+ days, elevated rents, more and more people are staying longer, often the midterm rental tenant pool is professional. 

Is there any specific value - or downside/risks - to deeding the property to the LLC? 

(This is a general statement not market specific) Condos have a lot more to deal with that TH/Apt, these two are pretty cut and dry compared to Condos. 

Types of properties needed, regulations, etc. 

In this industry, you really get what you pay for!