Perhaps we can exchange notes on the area?

I have met both tenants already but haven't exchanged information yet.

In addition, I’d recommend going to real estate investment meetings in your area, making friends, and exchanging work for knowledge (or some similar arrangement) so that you can supercharge your skills without taking too much risk (see the BiggerPockets Events page, or google the topic).

@Hadar Orkibi, to give more insight on the $1.4M and rents that Ben mentioned: We're spending $7,300/unit on upgrading the interiors, so touching almost everything.

I would love any insight into this situation; when I purchased the properties my closing costs were about 850 dollars so this was just crazy to me!

Always looking for new investments, insights, opportunities, partnerships, ideas, support and am glad to help. 

We appreciate any help or insight!

I'd probably sign what they need and a quitclaim deed in exchange for my money or at least a promissory note with interest. 

@Robert Davis IIIOut of state is a great thing, if you live in California :-)It is defiantly doable, I know many people who have their entire RE portfolio out of state or out of country...Now , with all that said , if this is your first RE investment then for sure you have to visit the area, and get the local insight, plan your trip ahead and have everything lined up:Several "potential" properties that you would consider investing in, tour them real good and grade them for yourself ..When you visit these subject properties make sure to blend in as much as possible with locals , neighbors, mail man and everyone in town that will be happy to discuss and contribute REAL local insight ... at this point I would not take advice from anyone that is talking from position...

Thanks in advance for your insights!