The local DMV had a form that allowed me to pretty easily obtain title to the abandoned vehicle.

Recently I have found it aggravating to deal with having to meet prospective tenants to hand deliver applications, or dealing with those who don't know how to edit an emailed PDF application and return.

Over the last 5 years we (@Sam Wilson and I) have developed a pretty cool and detailed system for tracking preforeclosures in Tennessee - primarily in Memphis and surrounding counties (but could easily be expanded to any other county or city).  

Hope that helps.Couple other things you'll want to think about too if you haven't already-- owning real property in another state will very likely subject you to income tax in that state such that you will also need to file a Kansas income tax return each year in addition to California.

Return the one that doesn't.

My credit is excellent, but of course being self-employed must go off my REI history rather than tax returns to borrow.

Currently he only needs funding to help cover the rehab completion.Here's a summary of the dealARV: $315k (I've verified that this is in the ballpark +/- 10k)Purchase Price: $130kRepairs to date: $32kAdd'l rehab estimate: $25k << my pieceProposed terms from my colleague:I am offering 13% annual on a 12 month note with a guarantee of minimum 10% return.

They returned the forms.  

I am in attorney review for a property that is a great deal (30% cash on cash return).

As for taxes, there is no practical difference in tax burden whether you own this personally or in an LLC taxed as a partnership (other than the added LLC taxes from the state) because it is a pass-through entity and the taxes follow on to your personal return.