Foreclosure auctions are on the table, although least preferred due to the lack of interior access (maybe with more experience).

Also, the state of formation is likely where internal disputes would be brought among LLC members, so if you and a partner and/or spouse live in CA, you probably want to arbitrate in CA if the two of you had a disagreement.

Could you imagine the hell that would wreak on international markets!

@Ben ClingerHi Ben, I just noticed your post.Toledo just clarified their inspection criteria for section 8 houses and decided they wanted their cake and to eat it too...we don't have to have an interior inspection (since LMHA inspects that during their inspection), but we DO have to pay for a Lead Inspector contractor to visually inspect the exterior of the house and of course we DO have to pay the $45 fee (which is of course what this is all about).LMHA of course inspects the outside of houses along with the inside so the whole lead inspection is redundant.

The last tenants did some damage to the interior of the house and repairs like, sheet rock, fixtures, paint, etc. need to be completed. 

Not sure what the interior will look like, but hopefully you have photos of prior to occupancy, so that you will be able to claim against their security deposit, and a judgement for past due rents and any damages

Quote from @Jon Taylor: @Pete Harper - Section 721 of the Internal Revenue Code allows an investor to exchange property held for investment or business purposes for shares in a Real Estate Investment Trust (REIT) without triggering a taxable event.

The necessities are floors (LVP), windows and paint for the interior.

Also, keep in mind that some lender may have overlays that are more restrictive than the FNMA/HUD guidelines, meaning the lender's internal condo guidelines require more than FNMA/HUD.

The BIS, bank of International settlements, will allow banks to hold up to 1% of its reserves, in bitcoin.