Provide the resident with the option to renew at the higher rate or to move out...and provide three months to find a place should they choose to move.

I am curious what you do choose!  

Stating this is the rental ad can also bring you more applicants so you can choose the best one.2.

Our idea was that I will look for properties to fix and rent, which including choosing the property, managing the fixing, finding a good property manager and of course being the boots on the ground for all of this process. 

When filling out the loan or cash purchase section which do you choose? 

(imho)...Once you have enough rentals paying for your basic necessities, your subsequent purchases can then help pay for some "fun" things you've always wanted in life...vacations, a nice watch, your dream car, extra donations to your church/charity, pay off mortgages (if you choose), or maybe you just continue to re-invest. 

Here is another common misconceptions:Misconception: A fund does not allow you choose individual deals.  

I'd choose the in-state investment option for starters provided that your local market can give you that 1-2% rule deal and if it's affordable.

My aim with choosing an entity is to protect my property from future threats.

Companies will not choose high-crime locations for new operations.