I've read several books, listen to several podcasts, but the market analysis question seems to be answered vaguely (research growth, rent comparables, job opportunities, etc) Am I making it more complicated?

Simple answer to your question is no.  

Questions: 1.)

This involves showing units, answering questions, and helping with paperwork.Bird Dogging: In real estate, a bird dog scouts out potential investment properties for investors.

I appreciate your question and perspective on passive income.

Another option is to YouTube and look at different sources on these questions..

Here are a few initial questions that I have: - I'm wondering if there's a recommended corporate structure for these type of business activities, focused primarily on both short-term and long-term rentals.

I have lots of questions and am interested in hearing people's experiences in Abq's housing market. 

Clint, thank you for responding to my question.

The stream bed in question is small/ephermeral, and the properties haven't flood in 12 years, even when the local area has seen some massive flooding in the last decade.