They need to be national and have a descent mobile app that supports picture check deposit. 

In a fund model the investor makes his money over time and the economics to the managers are in large part directly tied to the return we achieve for our investorsReduced management time / ability to be hands off – we would suggest that for most accredited investors, the amount of time it takes to properly understand and optimize the performance of the business, even if it can be achieved at all from a long distance and without becoming a specialist, is probably better spent on other activitiesBenefit from greater economies of scale than one can achieve with individual purchases – everything from materials purchasing, rehab crews, property management etc.Advantages on debt – specifically: Funds’ debt is non-recourse to investors whereas individuals’ debt is typically fully recourse to their other assets in a worst case scenarioFor many foreign investors debt leverage is not available at all or not on competitive terms, so this is a particular improvement for foreign investorsEnhanced exit scenarios, specifically becoming attractive as an institutional roll-up, with the better potential exit valuation that may drive vs. a one-by-one sale scenarioWe have bought and managed 2000+ homes in a range of markets for institutional investors in the past few years and so definitely bring best-in-class management experience to the venture.

Welcome to BP Nation.

Other good sources to learn are from government sites, legit associations, the American Land Title Association, Fannie Mae, Appraisal Institute and current university materials can be found.

Nationally I don't think we are overheated at all.

You can theoretically be holding while not present, and should not face any risk of losing ownership - unless you are a foreign diplomat based in the US, or you have some sort of personal ties to the government of your home nation. 

.   :-)Norton Insurance, a lead sponsor for National REIA, has a special product - RealProtect .com just for investors.

He says neither , I took a course and was certified  by the national inspector assoc , or something like that .

Your most cost effective option is going to be to utilize one of the national companies.  

They can provide you with a state specific lease that complies with all of the current local and national statutes.