So I am not sure of what purpose using the registered agent served as all the information would be made available?  

Welcome to the community and be ready for a huge amount of information at your finger tips.

This is a great place to learn and to connect with people so take advantage of all the great resources.

@Miki JovanovikjWe have several attorneys we use in Florida.

@Ian MillerTons of great comments already to this post.

You have a great opportunity to get in for 0% down so I'm glad you found this strategy.

Thank you so much in advance for your help.

Is it by filing 1065 and generating K1's or is there more to it?

There are recent changes in how they are being taxed in Illinois.

Most of the time, you can purchase a property with tenants already in place, but the leases often need to expire within a certain timeframe—usually around three months—so you can establish owner occupancy.