Quote from @Sherry T.: Wondering if losses from passive rental income (I.e. long distance property managed by third party) could offset capital gains from stocks? 

Since this will be your primary, I would probably R/T refi the hard money into a Conventional loan and then get a heloc on the property afterward.

@Vilmor II T. if you plan to use the money to buy property in the next year look into a simple high yield savings account.

@La Ferria T., @Rich Preston, @Cody Noblin, Alabama tax sale investors are entitled to take possession of property as soon as they receive their tax certificate, usually 5-15 days after the auction.

I'm looking into forming an LLC to do some out of state real estate deals in Oklahoma and I'd like to consult an attorney to make sure I'm crossing T's and dotting I's correctly.

The lease is vital to make these situations work.You need to prepare yourself for some tough situations- you'll have way more interpersonal problems to deal with than landlording issues, so be sure your lease protects you and you follow it to a T.

One of the reasons we have such a high success rate with navigating a state that so many say is not landlord friendly is because we know the areas to go to and the area t avoid. 

@Chris Seveney This reminded me of a line in a John Mayer song: "When I really start to break it down,I wouldn′t trust a girl who knew about this place."

Best,David T. 

@Henry T.