If your basis is $100,000 and your sales price is $250,000 then $150,000 / $250,000(60%) of each principal payment will be considered gain.

I have yet to have a BP poster explain to me why a Wyoming LLC as opposed to an LLC in the state where the property is located will prevent a plaintiffs attorney from filing a claim against the whomever is listed on title when a premises liability issue arises amongst other common real estate investor/landlord claims. 

 how about filing a motion for a temporary restraining order (TRO) and preliminary injunction to enjoin (stop) a foreclosure sale? 

It can be a complicated structure and you need to make sure you're doing compliance on each llC and filing the property documents quarterly and annually.

An example problem statement that I may have stated (and built the software for) in 2003, when I started investing full time: Build a tool for lead generation that collects county records from the county recorder's office (and property card data), finds the recent first mortgage defaults  from trustees websites or public filings for properties that are between 1000 and 1700 square feet, in a neighborhood of 90% like-kind properties with greater than 20 parcels, houses built after 1978, that can cash flow at current rates when fully leveraged. 

California does charge an $800 fee for the LLC and if it's NOT disregarded to you then you must file a tax return (more money.) 

And there could be some carve out exemptions for seller financing and if so then that would possibly need to be filed with the California's DFPI.Research local escrow companies and banks to see if any of them do contract loan servicing.

Series has unlimited scalability, and creating new series does not require any additional filings or fees with the state.

But it was reported on your joint tax return with your wife (as long as you file a joint tax return). 

Even if you can track down their bank accounts, you can file the garnishment once and collect whatever is in the account.