I am born and raised in West Michigan and invest there with my partner, I moved to wisconsin near madison in 2012 and know that area quite well but haven't pulled the trigger on investments there yet as the numbers are so much better in West Michigan right now, definitely interested though.

If you decide to start outside of your own backyard it's imperative that create this boots on the ground network before pulling the trigger on purchasing otherwise you'll be putting yourself in a high risk situation.  

Your tax would increase upon purchase which is likely triggered by sale of property. 

We are looking to get pre-approval (for conventional financing) so we can pull the trigger quickly if a good deal comes along.

They pay a full time maintenance man the equivalent of $50K per year plus benefits--which is pretty decent for our area-- but over the course of a year he generates them $100K+ in profits.I'm still not ready to pull the trigger on it, but I've started experimenting a little with master leasing and subleasing. 

Does this transferring trigger any transfer and recordation tax or any other fee or taxes?

My two cents...Once your partner buys the property via an FHA loan, anything you do to try and add your name to the mortgage or have an LLC take over the mortgage, triggers the due on sale clause.

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single family home with a purchase price of $75K (looking to get $5k in credit for repairs - vacant house) in a nice working class neighborhood.  ARV of $105K, which is conservative since the assessed val...

I think I have a good handle on it and I think now is the time to start actually pulling the trigger.

I believe change in use may trigger it and definitely an addition will.