She is now 4 months behind, which triggers my initial reaction to file eviction.

He lost the house in December of 2019 when the foreclosure was recorded and the deed filed in the bank's name. 

If you have to file for an eviction on day 1, this can make your purchase significantly more expensive.

However, without the right disclosures and legal filings, yes, you can be sued for getting it wrong. 

@Katrina CabralInvesting in a different state than one where you live may require you to file a non-resident state tax return with that state. 

If there is a quarterly/monthly lease that is active (paying status) and I file ejectment and quiet title would I still have no rights to assume the lease agreement or the land that the billboard is attached to?

Since this is CA the annual cost to keep the entities active would be $800 a piece for CA LLC fees plus a couple hundred bucks to file tax returns. 

Lastly, by investing in Texas you won't have a need to file a state income tax return, but should you invest in a state that has state income taxes you would.  

With 3 weeks gone you now have about 7 weeks left in play for a lender to work on a file.

We currently live in different states  and plan to file our 2021 taxes separate.