I am looking to invest outside of California for the first time.

Locking in at a discount like that is a textbook play on patience and striking at the right time.

I'm having a hard time wrapping my head around how to actually make this happen in today's world. 

I am close to purchasing my first sfh investment property.  I have purchased many homes in the past as personal residences and always with the help of an agent.  Is it customary to offer something less than asking price?

This past year they have started paying rent late to the point where the total accumulated time is about 3 months of back rent due.

You can search for him here on BP and see how many times he has reached out to help people with timely expert advice. 

However, I have contacted the Secretary of State office and it states on their website that there it is a one time filing/fee to form an LLC there.You will typically want the LLC setup where the asset is located. 

There is a time freedom aspect that is a huge plus and once you get your business going you can have more time freedom that will be about 5 years in if all goes well.

After many years of listening to BP/Real Estate Podcasts, reading, and building up my finances, I believe there’s no better time than now to finally jump into the real estate world.

I would be cautious taking on a project like this for the first time.