Maybe this path will eventually lead me back to California (fingers crossed).

You're technically buying the house on the front end at a discount with the hopes of rehabbing it to force initial appreciation and renting it (BRRRR) to eventually sell it for a profit (flip) but you can sell at any time.

We have a good relationship and basically after the job we are finishing up now (an apartment building rehab) he is looking to do some flips on his own and then eventually get into buy and hold. 

I would add that if your plan is to eventually turn into a rental like you would with your current place, then a pool is a negative, not a plus.

It's tight, as there will of course be closing costs, and some renovation costs, but I want to show I have the money in the account.I can open an LLC for 250-300 dollars within a week, or I can just work with a title company to show a sort of temporary LLC in case I don't get the house.I need to put down earnest money (say, 1,000).All of this requires time, effort and a bit of difficulty as I live overseas.I know I won't get every REO I bid for, but I was wondering if it is worth it to do all this, assuming the bank will reject my offer, in the hope that there will eventually be a property that is worth what I offer for it, and I will get it if I keep making offers.Also, if I show I have an LLC that turns a profit, what are the tax implications?

It's not the biggest city in the US and I can guarantee there will be people who will eventually hit the good areas with due diligence and a 300k cashout on their mind. and yes I did kinda just reveal where my properties all are.

It's very rare but if you put in enough bids at $70k below tax then eventually one will hit.

I'm still new and I know I will get there eventually.

I would eventually like to fix up and own a few apartment complexes. 

If you're looking to have them out, gear up for filing the eviction, plain and simple, as you're right about the likelihood of them staying over term.That said, unless your lease says something explicitly about showing the unit while they occupy it AND (my personal opinion) you've gone over that eventuality with the tenants and they've said that would be OK, I understand them being uncomfortable with strangers walking through their home.