@Yuval MolchoIf you decide that your OH LLC will conduct business in TN, you will need to register the OH to do business within the state.Whether you should operate one or two LLC's should be a conversation you have with your attorney.If you do business in TN, you may be subject to an excise tax.

Remember, as an owner you can conduct your business as you please (as long as it legal of course).

@Chris Clothier Is there the option to conduct a search for vacant homes that have been vacant for longer than X months?

I believe the real problem lies with those too lazy, greedy, and/or ignorant to invest a little time and energy into conducting some research prior to investing their money.

A very narrow exception applies to a partnership that has elected, underSection 761(a), not to be subject to the partnership taxation provisions of Subchapter K.The election applies only to a partnership: (i) for investment purposes only and not forthe active conduct of business; (ii) where the partners hold title to the property as coowners;(iii) where each owner reserves the right to separately take or dispose of his orher share of the property; and (iv) which has no active trade or business.

I'm an accountant by trade so I understand the numbers side and conducting the analysis before any deal.  

It is the primary place I conduct rental business and Nolo's Every Landlords Tax Deduction Guide seems to elude that I can get the mileage deduction.

The safest way to conduct business and stay out of trouble is to fully disclose essentials of the transaction to all participants involved.

If you walk into a commercial lender/broker and say, "I've found this great deal and here let me show you how good it is," while pulling out the envelope you used to jot down some figures...They will be polite, they might even listen for a while, but you are finished before you ever really got started.But, if you walk in there and show you and the seller negotiated an LOI based on the operational numbers the seller shared; then you conducted real due diligence on those numbers; then you and the seller renegotiated, if necessary, the deal after completion of the due diligence and have a signed purchase contract; and you are preparing to spend (or are spending) real bucks to get the inspection completed because the numbers prove it is a good deal...They are going to listen to the rest of your story showing how you plan to improve the building, increase rents, decrease expenses.

Additionally, we are conducting a home auction in San Luis Obispo and our goal is to sell 100 homes through that one day event.