Also there is a $200 deposit to get the bill transferred to tenants name.  

You do know that that type of deed only transfers whatever interest (if any) the grantor has at the time?

This was a transfer case from San Bernardino to LA, so even more issues there. publication done in SB county, but now has to be done in LA.

I also love the use of balance transfers for real estate investments...except in my case it has been for notes.

If I was more knowledgeable I am confident I could do go the sub 2, lease option routes but I am just getting my feet wet.

BTW, I'd be happy to assist you if I can in your putting any financing materials together, confidentially, if you would like.

Goal is to transfer from W2 job to full time real estate.

You can't transfer the deed within 90 days... if you flip for profit... read your contract.

He then told me that I should go to college and deal with it until my third year, where I should transfer to University of California, Berkeley.

You may need to return some of the funds for future months.You still should do background/credit check as you would with any other tenant.The tenant can easily open a checking account and set up automatic payments to you, via bank check or electronic transfer.