For example, a $650k 3-4 unit where each can rent out at $1,500, allowing for a negative cash flow of $2-2.5k/month the first year.PossibilitiesGiven those goals, it would rule out the more expensive places (California, Seattle area, Austin).

We're in a community property state, where I believe my wife is automatically considered an owner.Would you be able to clarify if I am allowed to quit claim into this LLC as is, or if I'll need to add my wife to become a married single member LLC (married SMLLC)?

However it is typical to allow the lawyer representing the lienholder (lender) to make an unofficial bid referred to as the "upset price".

I am an investor and realtor as well but I focus mostly on fixing up distressed properties to increase value and grow the equity and that usually allows better cashflow also. 

House hacking—a concept we discuss often—could allow you to offset your housing costs while still owning a property you could live in down the road.

Quote from @Tenzing Palmo: Hello I’m looking for my first investment property in Dallas Texas, I live in nyc so I don’t The trick with new construction in many of the growth cities is that don't allow rentals in the HOAs or have super restrictions. 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

The trustee was able to negotiate with us and allowed us relief to sell the property because there was not profit being had, they owed around 70K and we were selling for 25K.

If you do a good job with building sponsor relationships, then you can probably get to the point that they'll allow you to use their track record. 

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.