I'm just shocked when someone purposely searches for higher risk investments when they are investing from a distance. 

They provide the service pretty much as what you described: find list of properties to be foreclosed, drive the properties and take photos, run preliminary title search to identify other liens, crunch numbers and go over the properties with investors prior to auction.They don't charge anything upfront until you win the bid on the auction.

Just closed on mine in October and had anticipated a 20% DP as well, boy what a shock!

I have sticker shock!  

(CAVEAT: personal opinion, no legal standing)In Calif, I used a PCOR(preliminary change of recording) andshow sale price 0taxes 0purpose:  Change of VestingThe QC was then declared Grantor, Mr & Ms xyz, Grantee, "ABC, LLC"Also worked for vesting into Living Trust.

Don't be shocked, BUT . . . buying directly in the name of an LLC usually (99.9%) doesn't work and the lender will require mortgage & deed to be in your name. 

So I would like to avoid paying taxes on it.I intent on meeting with an accountant soon but just doing some preliminary research right now.Thoughts?

I have substantial investing experience in the stock market but have been shocked at how hard it has been to take that leap and buy my first investment property.

My exit strategy would be to bring the value up and then sell (assuming the comps are predicting greater value then my costs)  Preliminary research indicates that the cost per square foot may be significantly higher then i would be paying, when all in..Thanks! 

I'm embarrassed to show my ignorance here but I am shocked that the TREC lease doesn't have more to do with NNN.