I think that the growth in Washington state and specifically in Seattle-Tacoma-Bellevue point to strong rental markets based on population growth in the past 5 years(8.54% growth 2010 to 2015). 

Also let them know your partner (your future cash buyer) will want to see the property. 

are you looking to get in actively (flips and/or self-managing rentals) or more passively (turnkey properties or financial partner)?

It has worked for us in the past and that fascination of homes we explored while looking for a deal in my youth, and the different factors that led to a wise purchase  has strongly flowed over into my current life. 

Sorry I missed the mentions.....If you do not have a personal relationship with the grantor (married, family, business partner) Never buy a property using a quit claim deed except from an insured lending institution.Sub-to you use a special warranty deed or equivalent in your state, warranty is granted subject to underlying financing. 

Did not form business yet but idea is to redo everything and keep collecting the checks for next 15 yrs. my partner thinks it's not a good idea to change drywall sheets but change everything else.

I personally use TLO but one of my partners uses LexisNexis. 

(someone please, correct me because this is the way I understand it)Partnering with someone with money.Use your bank for a line of credit, which you will need to have a good credit score and a good salary to get qualified.Use hard money lenders (accepting their conditions but you need money to fill a gap since they do not finance you 100% of the project).Use crowdfunding money.Have cash of your own to finance a whole project.It doesn't matter what method of financing you use, knowing all the facts on a specific property will be required and the list is long beginning from the year built.

Do I need to register as an out of state LLC if I am simply a limited partner in these crowdfunded deals?

If you need any help with anything in the area or want a partner with boots on the ground feel free to let me know I'd be glad to help.