The "cash for keys" method is to basically bribe the tenant to leave without the waiting period or formal eviction process.I used it successfully once for $300 per tenant in a house I just acquired, another time I was unsuccessful offering $2000 and had to go the route of a 60 day notice (required in my state if the tenant had lived there more than a year). 

But preparing more formal Articles of Incorporation or a Partnership Agreement or Operating Agreement - definitely legal work and something most CPAs aren't going to be licensed for.

Any formal closing process or deeded it over should have triggered a transfer stamp to get the final water bill paid before you took ownership!

To make it more formal, you can draw up a promissory note with you as the lender and your LLC as the borrower.

Owner offered me 35k with owner financing, however he wants to talk to his renter that rent another property of his that borders the lot I’m interested it.

Now I currently have a job in construction management, and am usually working in the the areas near the NY border and sometimes in Brooklyn.

Goals: -stable cash flow, not as concerned about appreciation (check, assuming description is correct in saying they've had stable tenants. rental price should increase in the next couple years so i have some assurance there)-looking for min $100/unit (check)-C+ neighborhood (check, borders some B/A neighborhoods in upper Ohio City so hoping some absorption goes that way)Other things: -20% CoC return (almost check - Changing purchase price to $53,000 and have tenants also pay water/sewage would bump this deal right up to my criteria of 20% CoC.) 

Either through a formal program or through trial-and-error.The problem with trial-and-error is that it can take years to figure it out, and the mistakes you make can end up being very costly in many ways...the biggest of which is wasted time.The question is if you decide to invest in training, which should you pick? 

Anyway, i work a crummy dead end job, and have no formal education after high school.

Most dogs in this category do have formal training and documentation, but proof of this is not required.