To eliminate PMI.What is your exit plan?

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

It would eliminate the worry of finding a licensed MLO for Dodd-Frank, and I would get a lump-sum.Anyone done anything like this?

This will cut out hours of questions/meetings with the contractor, and eliminate any delays because he doesn't have the info he needs to order and move forward.

Also, would purchasing an out of state rental property eliminate my option to be approved for an FHA loan on a primary residence in LA later on?

The good news is there are legal structures that can be put in place to eliminate the possibility of losing big in that case, even if insurance won't do the trick.

Conveniently, both solutions are the same, eliminate that person from your sphere asap. 

Example if you looked at your amortization schedule at the end of year 1, and saw that the total schedule principal payments for the following year, total $4800.....if you wrote a check for an extra $4800 payment right then, you would eliminate one year off the term of your loan, and on your next regular monthly payment you would effectively be making payment number 25 instead of payment number 13.

So people selling low priced property are now protected from "high" percentage commissions, which also has the effect of eliminating being able to list their properties with Realtors, on MLS, etc.  

The aim is to avoid any backlog in the Sheriff’s office.Creates an online auction site for foreclosed properties.Modifies the appraisal and advertising process for subsequent sale attempts, while eliminating the 2/3rd minimum bid requirement on subsequent sale attempts.The OSBA Real Property Section and the Banking, Commercial & Bankruptcy Law committee were instrumental in crafting the bill and assisting with its passage.