The friend left his contact information but has not returned any phone calls.

I agree, research definitely needs to be done to assure a return as some areas just don't seem viable at all.

There are companies pounding my inbox that I should build out my brand, spend a bunch of money on videos, photos, design, Google marketing, affiliate sales, etc.... for a higher return and control of my own destiny. 

(I now have my mortgage finance guide with different lender requirements and areas to invest based on return on investment)Now For The Before Pictures......   

You will need to pay the annual registration, Registered Agent in those states and then file a tax return in Illinois as a Foreign Business Entity which pretty much blows away all the privacy and no taxes due in Nevada or wherever these folks use to sell their snake oil. 

You also want to consider your return on investment assuming that you are paying yourself rent.In the end, it's really hard to compare two properties that are the opposite about appreciation and cash flow.

I know that in sub-to deals, the seller holds the loan in their name while the buyer name goes on the deed and they make the monthly payments and should the buyer default on a payment, the deed returns back to the seller.

While there is a physical asset and a real estate transaction, you are really buying a rate of return that you want to meet or exceed on a consistent basis.

I just returned from a trip to Huntington Station to meet with a group of my investors, beautiful place. 

Well you may get some return but I’ve heard horror stories with this stuff