But the more reading I do on it, the more incredibly complicated it seems it is.Let's say a friend from CA wants to join in on a purchase in GA with me but I live in NY.He fronts the down payment. 

This is complicated and requires professional help, to stay in compliance with the rules. 

Last week I paid $145 for an electric range to have a new mini-electrical panel be replaced and that sounds more complicated. 

One thing I see that is missing is penny stocks which I imagine are more volatile but may provide a better return and also option trading which seems to complicated to me anyway.

I've read so much about REOs being more complicated and would really like a straightforward deal for my first deal. 

I'd be happy to go over it with you, it's just way too complicated to explain right here. 

with 1 property it would be pretty easy to do in a note book or on an Excel Spreadsheet, dont over think it, its not that complicated, as you get more properties, work with your CPA, use the Software they want you to use (Quick Books, Peachtree, ect) and have them teach you how to use it. 

@George Blower running an LLC is really not that complicated, nor expensive.

The only hiccup out of 5-6 houses was one appraisal issue that we had to meet in the middle (closer to my number than the appraisers).My opinion is that realtors are worth it (I use one now, but am getting my license as well) however I found listing and selling my own deals was not complicated.

Is it complicated to use the  background screening or is everything pretty simple ?