Not so "simple" but once you quiet title, it gives you legal, recorded ownership of the property.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

What does the business do and what is its legal setup?

While this is based on my understanding, and I am not a legal professional, I hope this provides some clarity.

For example, if the average scenario is 3 months, $2k in legal fees and $1k in damages and rent is $1k/month that is $6k.

Kris Krohn got into some legal issues in 2012 with the SEC, but if you read the actual complaint, the SEC makes it appear as though Kris Krohn is unethical, and their real estate deals were not profitable.  

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

As you prepare to rent it out, it’s great that you’re thinking ahead about the legal and paperwork aspects.

Anyone here use eforms.com for legal documents?   

My wife will materially participate in the business and I'll provide the financial backing.I've talked to a couple local CPAs and done a fair bit of internet searching on legal entity setup for my situation, but haven't been able to get a straight answer.