HI BP,I've been thinking about what to ask from tenants in case of issues...besides a copy of their gov't ID (Drivers or passport), credit report stating full name, address and birthday, what else do you all typically...

Working with someone remotely could definitely broaden my options, especially considering the dynamic nature of real estate investments.I appreciate the advice on seeking a tax strategist who remains engaged throughout the year.

Definitely have a lot of homework and due diligence to do!  

However you need to remember if it takes 2 years to foreclose you will have about $3,000 in legal fees and 2 years worth of new taxes and water bills, and potentially fines, that you will have to catch up also.

The property is a 6-unit building in Los Angeles.Given the significant difference in current rents vs. market rates, I'm looking for advice on how to legally and ethically approach raising the rents to reflect market value, should I decide to move forward with the purchase.Some additional context: even if I were to negotiate a better (reasonable) price and were to successfully evict a tenant who is 5 months behind on their rent and charge the market rent for that unit I'd still be -$600/month. 

You will need to furnish them and check with local regulations to see if this is legal but if you can you will make a lot more money this way. 3.

I recently went to my first ever BP meetup here in NWA and it was awesome and a great place to meet everyone, so I would definitely recommend anyone to go to any of their local meetups!

I'm not an immigration attorney, but my understanding is that you can only passively manage your LLC under H1B visa, and the definition of 'Passive' is kind of a grey area.

Can I pursue legal action to recover rent for the full lease term (12 months) since the tenant signed the lease? 

The subdivision goes from 150k to 1 million in price.If your friend owns other properties that are trophies I would definitely cross-collateralize some or all of his other properties and get a personal guarantee.