The Power of QuickBooks.

Information is power

Your seller will need whatever documents that prove sufficient capacity, powers and authoity to pass marketable title. 

The Power of Leverage: Real estate mostly appreciates over time, either at the pace of inflation as they are a tangible asset, or a fair bit above it when demand outstrips availability.

What's my best bet if I want efficient access to capital to acquire more foreclosed properties?  

Consider that he could probably hire a property manager for a lot less.If you can convince him, more power to you...but you should be realistic about what your cash flow will be (it WON'T be $2000/month), so that way you can set realistic expectations with the owner as well.Also keep in mind that if you don't have an equity in the property, it may be illegal for you to property manage it (depending on the laws of your state).

They were prompt, efficient, and accurate.

Those are some pretty powerful motivators. 

You can potentially get better lawn care rates, PM rates, maintenance, etc because of the efficiencies the density of your properties all in 1 spot allows.I'm by no means a baller but you don't sound like someone who wants to dip a toe in... you're talking about dumping $300k a year into real estate... so if you're going that route, all in... go big or go home.For most people I would say buy 1 property, wait 6 months to see what you missed in your first deal, and then move forward... but most people don't have $300k in liquid capital to dump... most tie up their entire life's worth in that first property.  

It sounds like a power struggle at this point.