I have a question regarding an add in my local news paper classifieds.

Someone just  putting numbers on paper and 'guestimating' isn't good enough for my money and it shouldn't be good enough for yours.  

My husband has the full time job and I'm doing all the research and trying to figure out how/when/where to make the first move.We've gotten the LLC formed - business phone number set up, business cards, all the proper paper work filed, etc...I've had my real estate license for 2 years (but never acted as a traditional realtor - sold 1 home and did rentals and referrals for family/friends).

I've heard many warnings about dangers of partnering with friends so we're both just tentatively "sharing ideas" before putting pen to paper. 

You mentioned Trust Deed Investing, which is essentially investing in paper secured by real estate.

After finding this was not a real paper Book but an "Audio Book" which had to be used within 24 Hours, I tried to cancel and get my money Back.  

I also send cover letters and flyers to every welding school, instrumentation school, and refinery in Kansas, Oklahoma, Texas, Louisiana, Arkansas, Missouri, Mississippi, Illinois, Indiana, Tennessee, Ohio, and Alabama.Amenities:  Washer/dryer and laundry detergent, kitchen with all appliances and utensils, cable tv in every room, wifi, sheets blankets and towels, soap, t.p. paper towels, outdoor grill. 

The list for November was just published in our paper today so I put them in a spreadsheet and start.First thing I do is gather basic info about the property from zillow, mls, county assessor site and do a rough estimate of what I think the property is worth.

What I would recommend is to utilize an online application or paper application so that the tenant doesn't have to pay an application fee just to submit the application to you.  

These abandoned "Blight" homes have been in the news paper, in front of city council and even had laws trying to force owners or lien holders to do something with the property.