In a line previous in your posting, you also said that you asked for the names of the applicants at the open house… I don’t know how this PM conducts business but we WOULD NEVER divulge our applicants to an Owner … I get it it’s your property but 1) you are under contract with your PM; 2) the Tenant and the Applicants are the PMs client’s; 3) depending on your state and/or PM agreement you may be violating the applicants right to privacy and 4) you may violate fair housing which would also put your PM at risk… so no we don’t share applicants.

Plus, and Indiana, you can avoid having to conduct annual meetings and filing lots of paperwork if you keep your LLC articles of organization simple.I may spend more effort choosing the name of my LLC than actually creating it :-).

You ALWAYS have to conduct due diligence on any purchase regardless if it is OF, FHA, whatever the case.

At this auction the bank will provide the trustee (attorney who is conducting the auction) with an opening bid. 

Here is FTB's definition of "doing business":https://www.ftb.ca.gov/businesses/Section_23101.sh...If the "tax payer" they refer to is the LLC and the LLC is only conducting business and owning property outside of CA, I don't see how it matters where the member(s) or the manager(s) of that LLC lives.Think about it like this. 

Also, how do I go about conducting this transaction with an investor?

We encourage all prospective bidders to conduct their own due diligence and investigate all matters relating to the properties that they are interested in purchasing.

You should conduct this due diligence before your next steps.

Any entity formed to conduct any RE activities by a broker may have unintended consequences in meeting license requirements, the entity may need to be licensed and meet other requirements, not sure but check on it. :)

I let all applicants know, in my ads and application, that I conduct a nationwide criminal background check with address verification.