If the mortgage is in trouble that would trigger a foreclosure.

There are often automated flags that will be triggered if you do it, so it's best just to know how they will react.

Just make sure you guys are comfortable with the area before pulling the trigger.

You could also explore a jv partnership with a local investor.

Explore creative financing options like seller financing, partnerships, or the BRRRR strategy to maximize your resources.

Personally, in this market, I would work on saving up and really doing my best to find a great opportunity and pull the trigger then.

You already register with the state when you form your LLC, with some states already disclosing who the owners in a partnership are. 

Selling would likely trigger capital gains taxes (unless you lived in the property for two out of the last five years or use a 1031 exchange).

As a general rule, each entity that files a separate tax return (partnership, s-corp, c-corp, etc) will need its own QBO subscription.

I recently moved back to the U.S. after almost two decades working in international development and entrepreneurship across the African continent, from co-founding a tech-enabled logistics company in Ghana to negotiating public-private partnerships for infrastructure investments in Senegal.