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. 

I am partnering with another wholesaler in my area, and we need a new phone number so we can track where our leads are coming from.

I have another friend that has access to hundreds of 90 day lates through her job and is coming onto my team as a partner.

I think your going to find it tough to find a partner that is willing to split the profits.  

Since you have some reservations with money/ risk how about partnering with someone who has cash?