Owning properties through LLCs in their respective states avoids the need to register a foreign LLC, which adds costs and administrative requirements.If you plan to acquire properties across multiple states, you could create a parent LLC in Florida and have individual property-specific LLCs (child LLCs) in each state.

@Richard Anderson: You've piqued my interest.Do you happen to know if there are guidelines in the banking industry as to how to handle the Due on Sale Clause when a seller sells on Executory contract to another individual?

Most reverse exchanges are done with cash from the client or a private loan of some sort from an individual or a portfolio bank.When your old property sells you will have that cash in your account to purchase the new property. 

The trustee, borrower or bank can ensure you get your hand slapped hard for approaching the circumstance as a work-out or foreclosure fix it guy without a license or being an attorney.Let's say that we can approach the owner and be in compliance, which you can.You will not purchase a note as an individual investor from a bank that has started foreclosure by making an offer like that.You get a request from the borrower for the bank to sell the note in lieu of payoff as demanded.

I call the process "thinning the herd", and each year I evaluate the property performance and either take actions to increase the individual property performance or sell the under performer. 

I'm invested with individuals who have each put much more cash into the deal than I have, and their only compensations is a fixed percent of total profit. 

These homes tend to individually appreciate over time and are actually not bad places to live.The places with the lot rent you have to decide if you want to be in the mobile home business and buy the park.

I personally avoid individual showings and schedule open houses instead.

They can work out that payment situation..... who is paying what/when/how... not my problem The deposit is on the property, not the individual.... its stays with the property- if the "move out person" wants their portion now, they can get it from the "stay person" and the "stay" will get the full amount at move out.

However they did call and ask me to give a good review and once they removed me from the WhatsApp and no longer allowed to network with other individuals from the group they have called trying to get me to sign back up for even more money.