<bump>  Series LLC effective in VA: July 1, 2020Found some analysis of it here:  https://www.fplegal.com/assets/files/resources/599/fp_rhh_virginia_series_llc_article.pdf

Most real estate lawyers will not do lease-purchases at all, since failure to comply with even the smallest requirement may trigger significant liability for the attorney preparing and filing the various disclosures and documents."

Or find a great place to live where you can less than rent or close to it after principal paydown, and personally live in that new purchase for a long time..?

Commercial real estate is all I do as a principal broker and look forward to getting up everyday and see what happens.Some residential brokers and agents just see big checks in commercial but do not understand the time and effort that go into deals of that size.Instead of clients putting down 4k to say 100k in residential they are putting down sometimes millions to tens of millions of dollars as an investment.Make sure you enjoy numbers and analysis.

So I have to report the minimum LLC tax of 800/year on CA 568 and also have to file CA 109 as tax-exempt, right?

I had been passed on an excel file from my acquisitions manager with almost 400 lines of data.

What can I do if I find a motivated seller that has filed or is filing bankruptcy?

I do have experience working for Construction companies, Service Industry companies, and Independent Contractors in fileds such as Plumbing and A/C, Electrical, Multifamily Service/ Construction as well as Sales, Customer Service, Renovation/ Remodeling, Data Entry, Financial Services and Start-up Companies. 

Doing a title search on each home would be very expensive given the auction could be canceled (plaintiff files for bankruptcy), you loose the home to another bidder, the reserve price announced shortly before auction is too high etc. 

Quit claim deed would be filed and my name would be added to the deed with the seller.