As the title says, I have mixed feelings about this project.

And yes, you are still responsible for wiring earnest money to the closing attorney/title company when you put the property under contract.

•Instead of transferring the title, consider using strong landlord insurance, an umbrella policy, or a land trust (with your LLC as the beneficiary) for added liability protection.Your FHA Loan Potential for Another Property•Since your first home is already a rental but was likely purchased with an FHA loan, you may still be eligible for another FHA loan—but only if you meet one of these conditions:•You relocate at least 100 miles away from your current home.

But, you need to talk directly to the person whose name is on title. 

Arizona is a title state vs the attorney state of the Carolinas.

Process is simple. 1. purchase contract2. send contract to title company3. bring cash to closing and you're done

@Jason Dillard Even if the EDM is refundable, point me to the title company/brokerage who serves as escrow agent and returns EDM's without mutual sign off from both parties to the sale contract.

Mortgage laws, title and Deed laws, wire transfer laws, landlord tenant laws.Realize the seller of a distressed property has rights.

@Greg Loberg I have experience working with them but on the title side.They're based in Martinsburg, WV. 

Or maybe Larry Mountain at Land Title could be of some assistance or direction.