You might also consider taking a Real Estate Principles class online (Allied Schools or another) That will give you a good basic understanding of the process of real estate, title, escrow, financing, etc.

NicholeJust for your info you don't have to be licensed to manage property, you just need to become a principle and you do that by signing a master lease and then sub-leasing.

I would be able to get more houses for much less money with less competition in these other markets.I have begun moving toward my first purchase and am learning a ton from this sight!

You can take Real Estate Principles online, I think that's a great course to learn for the basics.

Get the basics as an agent and expand those principles, otherwise you turn into a one trick pony.

You are right about letting her break the lease she demanded her deposit back if I about low her to break the lease nd I guess to me it just comes down to principle.

When we sell or refinance (like someone mentioned above- we tend to refi our principle out in about 16 months or less on reposition deals) investor members get their principle back and net profit is split prorate according to ownership percentage.

You can add another line item to your spreadsheet, such as, "Income after capital" and another for "Income after principle" if you are trying to see your actual monthly cashflow. 

I would never do a deal sight-unseen, and I take it you wouldn't either. 

With regards to using these and being able to hide who is really the principle beyond the trustee(s) you use in the creation of the trust, you can use trust to hide the principles from the prying eyes of litigious people or lawyers looking to see who has the pot of gold, it will work in this manner.