You'll want an attorney presiding over the transaction.That said, I strongly urge you to seek training before proceeding.

This is a very good question and one I feel strongly about when new investors are interested in becoming a landlord.

A personal goal of mine is to build a portfolio and a strong team here, so that I can live back out on the west coast in Seattle/Tacoma  close to family, and raise my kids.

IMO without knowing much more, it's not going to be a strong retail property and id make sure you want to fully rehab such a property.

@Joshua Sayre, I am a big fan of the TX market and own a 200+ unit in Dallas and making a run at a 300+ unit deal to buy in the next 90 days.If you are just starting out I would strongly suggest you get very clear on what your investment strategy will be in buying properties in Texas.

I just did not see that as reasonable for a home of the price range to 1) sell quickly nor 2) command a strong sales price or get into a multiple offer bid off.

I did not want to replace the tubs, and the refinished tub looked much better than before.If you are using it on a higher end rental or on your personal residence, you may have higher expectations.Please note that you should definitely have a lot of air circulation (ventilation) in the room - the smell/fumes are quite strong. 

@Ewan Tong  on the face this is fine and done every day.. and the LLC allows for uneven distributions.As Bill states though banks generally will want anyone with more than a 19% interest in the LLC to be on the loan and if a PG is required to PG.That said if your credit partner is strong enough then it should work fine.You may have to sweeten the pot a little for your credit and state side partner who I would think is going to run the show. 

I am their eyes and ears and they trust me implicitly to identify a strong property that they will love.

@Remington Lyman mentioned having the property inspected and I would strongly suggest you do so, by a qualified company.You mentioned good cash flow.