In doing so, bear in mind that the cost and admin of a corporation is higher and that the tax treatment is different:1.

Begin with the end in mind and work backward to develop a roadmap for achieving your goals.

Is refinancing not an option in your mind because of the high pre-payment penalty?

I would enjoy meeting other like minded investors in my area.  

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

San Diego, where @Dan H. invests, blows Minneapolis out of the water - it's WAY safer in every category. 

As a Canadian looking to invest in the states I’m wondering if there is any like minded Canadians in here who would be willing to chat! 

It is just nice peace of mind that you don't always have to be available if their is an urgent maintenance issue.

The original poster's easiest route would be to have the owners of those titles request a lost title from the DMV, and then once the DMV sends them a physical title, have the owners sign them over to him.

They do respond within 24 hours but most of the time, the response is in regards to them working on your request.