So yes there are shops out there that do this but to your point they tend to be specialized, but we at least look favorably on "the little guy" or the "startup" we just like to set expectations up from regarding the different ways to engage our services.I'd be happy to show you via webinar what tools we have if you are interested.  

its out of area folks that tend to get hammered on these investments.. some work many don't.I have one client that I have funded over the years and he is of your same mind.. even with fresh rehab turn key they do very basics since they know the tenants are well tenants.I have others that will do rehab to a retail level..

Based on what you’re saying, and since you asked for advice, I would tend to take the cash out and go buy the 4-family.

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so CA residents are covered, and to try to have your contracts fall under the purview of CA courts.

We'd love to do additional vacation rentals in the future, but they tend to be much less passive and our time is limited presently.

They tend to be more appreciative, take care of the place, and stay longer. 

Their benefit comes from doing volume deals with suppliers to get a lower price and to have first pick when the shipments come in.

Ideas as to where you can buy appliances now:-Offerup-Craigslist-eBay-Used appliance shop (especially useful if you're out of town and need delivery)Granted, used fridges can be touch and go but a used range tends to last much longer without  issues. 

The satisfiers will tend to stay with you, the maximizers will always be looking for the better deal and be willing to work for it.

Markets like SF and NYC have been real estate outliers and outliers tend to regress towards the mean.