Compared to how to do bizz out here in the West were if they are wholesale deals and I dont need title insurance I just do my own deeds and record them..

There are occasionally opportunities for grandfathering if there is evidence of legally established conversions that were done previously, but no permit records exist to show it was done. 

This thought led me into studying about becoming financially free and building generational wealth.

I’ve used public records in Texas to identify estates in transition.

If these are even an average sized breed they can eat through a lot of food in a day/week/month.So the first thing is to get yourself financially stable.

Registration and Financial Considerations for the Second Company:Is it possible to register the second LLC on the property (as part of the 50%-50% model) if it does not yet have an EIN (Employer Identification Number)?

The buyer would need to show solid financials also of course (good credit, experience operating rentals, proof of funds for down payment and adequate reserves to cover any unexpected cap ex).

On the other hand, investing in some repairs (if financially feasible) might significantly increase the property's market value.Remember, each property is unique, and what works for one might not work for another.

I’m ready to start investing in my personal life to achieve that financial freedom! 

Has this property been working for a while with a track record of income performance?