Dallas, dealing with long distance properties can be a pain.

Nothing, but pain awaits you there.2) The other red flag is that the owner wants to do all-cash.

So I bought a list off the web and sent out a mailer. Decided you know what I am going to go knock on some of these doors and get directly to the source. Turns out I might not have chosen the best list, I thought it w...

Generally speaking, the flipper will make more money paying a HML, but if the project goes south, there's no one to share the pain. 

I studied Forensic Psychology in college while working a variety of food service jobs.

Since I don't know what the psychology will be of my first tenets, I will need to be opened to try either approaches and see what would happen.  

I'm in the process of setting up my LLC in Georgia (I am a Georgia resident), and my properties will be in Georgia, but I'm also looking at properties in other states (PA, IN, etc).So, riddle me this:-Will I need to obtain a local business license in addition to my LLC?

To Tim...I sure understand your pain and frustration...my advice is to take a hit if necessary  cut your losses and get out, it will not get better.

You'll want someone who has a clue what they are doing, otherwise it could be a long and painful process.

The 10% of rent a month is painful,  but I can certainly see how some investors gladly pay it to keep their investments passive.