The simplest way to purchase that property would be with a new mortgage.  

Don't know the amount of money involved, but while taking title and tearing up the note is the simplest, she has a forgiveness of debt for taxes and you have a payoff, as if the note were fully paid.

All good points as raised by @Roy N.The simplest way to do things without over-complicating matters wrt taxes,etc would be to just have him put everything in his fiancee's name.  

@Garlin Smith Given the info you've offered so far (that you own appreciated property in CA, including a primary and rental) and aren't looking to locate, and that you are looking for passive income (as opposed to making REI your new job right away), then turnkey is likely going to be the simplest option if you want passive RE income.

The simplest is likely for him to loan the money against a specific property secured by a note ect, and he gets paid off at refi. 

The simplest thing to do is tell tenants that they can't have an AC unit, or that the heat can't go above 70.Yes, it's kind of harsh, but it is what it is.

I see a (blurry) way thru it, but I am not sure my way is the simplest / smartest way.

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

@Shawn Holsapple you've given the simplest method I've seen regarding wholesaling HUD homes.

(sending letters is the simplest) I'd recommend starting in neighbourhoods where there is "rental income" potential and also has an older housing stock that's good for fix and flips.To build a cash buyers list:-when you have a deal post it on kijiji, craigslist or any other site where you can advertise private deals.