Think of a land trust as the moat around the castle.

There are too many good opportunities out there to consider buying negative cashflow.Unless you have some people you really trust on the ground, I wouldn't attempt a rehab from out of state.

Okay, here we go: 1) No, you don't need an S Corp, LLC, Trust, or anything like that to get started.

You mentioned a promisorry note but you did not mention a mortgage (or deed of trust) to secure the note.

Thanks for addressing my concerns!

Hopefully someone else will be able to address that.

I am hoping that I am addressing it soon enough to prevent the worst outcome. 

@Aaron Phillips You will just set up a deed of trust and your title company will file it with the county clerk.

Be sure that any list that you get has been put through the Post Office's National Change of Address (NCOA).

You can easily set up an LLC in Ohio online through the Secretary of State for $99, however your Resident Agent must be located in the state of Ohio, which means they have to have a valid physical address in the state.