When a foreign LLC wants to do business in Arkansas, it must register with the Arkansas Secretary of State and pay the $300 state filing fee ($270 online). 

It really depends on how quickly you think you can pay back the loan.

He was overwhelmed at first with all the "insider" stuff: the 1031 exchanges, cash-on-cash returns, and figuring out what an ideal cap rate is, especially in a hot market like Dallas.

If you have access to a line of credit on your primary home, that could be a good option.

Purchase price: $390,000 Cash invested: $120,000 I purchased a four-plex for $390,000 where each unit was originally rented at $400 per month on a month-to-month basis.

Expensive markets can be a challenge, but here are deals to be had, depending on the amount of work you are willing to do.

You can go to a local title company to run a quick title search for about $200 or you can do it yourself if your county records are online.

Can someone please let me know the mechanics of the recording process on an owner-financed deal?

If you aren't sure who to choose from, ask each of them for a meeting/consultation to break down your goals, the market, and the acquisition process.Once you've selected one, have them draft the offer for you and take it from there.The best agents are responsive, knowledgeable on the local market, have a strong supporting team (i.e. lenders, title, inspectors, title, etc.), and know how to put together a deal.As @Michael K Gallagher mentioned, you'd want to clarify whether or not your agent is also representing the seller.

Any advice on the steps to do this is appreciated.