There will be some closing costs.In California we use escrow companies (Corner Escrow Laguna Niguel Christy De La Torre) as for title it would be First American Title Noah Prestwood. 

Thanks Dave,Great info.What exactly does TIC and DST stand for.TIC = Tenant-In-CommonDST = Delaware Statutory Trust

@Eleena de LisserThank you for the welcome.

Hi, has anyone had experience opening a business bank account in Delaware for a rental property located in another state? 

Havre de grace might even be closer to Deleware than it is to Baltimore 

We're looking to sell but would like steady monthly payments and the ability to take back property in event of default (basically we're trying to de-landlord ourselves). 

I am a short term real estate investor lender, just down the road from Philly in Havre de Grace, MD. 

An entity that you might want to consider to legally avoid this cost is a Delaware Statutory Trust.

Right I only look to sheriff auctions in Franklin and Delaware county I want to start in rentals in about 2 years unless something falls in my lap.

Also, don't put too much stock in what you might find online about why forming a company in Nevada, Wyoming, or Delaware is so great.