Currently living in the other unit which is a 2 bed one bath.

So may newbies come in with their spreadsheets, calculations and declarations about firing their boss in 3 years.

Especially in a tenant-friendly state.I recommend looking for an attorney with a LOT of eviction experience.

I intend to relocate to the Rapid City, SD region in April/May for work, and I plan to acquire a primary residence that could eventually be transformed into an investment property.

After 30 months I will have paid the loan down a little, forced appreciation, might have a little market appreciation and hopefully interest rates are lower in 30 months then they are now.

CA may be low in cash flow. 

what about quit claiming the two owners onto title as tenants in common and managing the ownership through a TIC agreement?

An attorney can create an operating agreement for you and give you ideas on what to include in your operating agreement.Loans will probably be personally guaranteed, so it doesn't matter if it's in an LLC.

We are in the process of screening a tenant which of course includes verifying rental history.

I’ve got 30 properties and manage 300 others in Tampa, so I’ve been through a few storms myself.