However, out of state LL can be done but proper procedures need to be in place and enforced.I would not let emotions play a part in any decision making.

The IRS issued a revenue procedure in 2002 and another in 2004 that defined the terms under which these investments would, in fact, qualify as "like kind" property in 1031 exchange. 

Mostly legal/procedural worries.

Also, it can lay out the procedure for many of the issues that may arise during operation of the LLC.  

Regarding the bacteria test - be sure that the person collecting the water sample knows proper procedures.

very good description of what you experienced. i can see how a corporate monster such as wells, will have its share of "red tape" and seemingly idiotic policies and procedures but i think a lot of that is really just the nature of the beast.i must say though, my experiences have been very smooth in my dealings with wells fargo. my mortgage consultant is great.

@Julie Marquez,K.I.S.S. at it's finest...why change simple and effective?

All data pertinent to sound underwriting procedures (date employment will begin, earnings, and so on) must be included, ora statement from the servicemember that he/she intends to reenlist or extend his/her period of active duty to a date beyond the 12 month period, plusa statement from the servicemember’s commanding officer confirming that: 1) the servicemember is eligible to reenlist or extend his/her active duty as indicated, and2) the commanding officer has no reason to believe that such reenlistment or extension of active duty will not be granted, or documentation of other unusually strong positive underwriting factors, such as: 1) a downpayment of at least 10 percent, 2) significant cash reserves, and3) clear evidence of strong ties to the community coupled with a nonmilitary spouse’s income so high that only minimal income from the active duty servicemember is needed to qualify.

Some states have pretty crazy procedures for tax liens sales and yours is one of them.

We have been investing in buy/hold properties for about a year now, currently we are the owners, managers and maintenance crew while both working full time jobs, time is precious and I am trying to stream line our polices/procedures for maintenance issues.