Due to the current market we opted not to have the seller pay any closing cost so that was the initial deal but after seeing that they have a significant amount in unpaid taxes that they're essentially asking me to pay I am wondering if we should renegotiate the deal or just move forward(the numbers still work with the additional tax amount).Anyone been in a similar situation or could share your thoughts on how to approach this new information?

I'm still struggling with finding the best way to make first initial contact and ask them to work together, some of them are open and most already work with a handful of Investor.

Isn’t it ironic that I can write in earlier stories above about increasing sales and prices of SoCal homes, and yet 66,000 Los Angelenos continue to be homeless… Initial Jobless Claims.

So my initial investment is 11k.

Yes, all of the properties could be taxed if they're held together in an LLC, and then it becomes a question of what/which returns the LLC needs to file - typically it will need to register as a foreign entity if it does business in a different state than where it is initially registered.

However, i was initially thinking if I could use Fannie Mae templates such as those here...I thought it would be more cost effective for a starting RE Investor.

What would be the transaction to account for deposits when initially buying a property?

Buydown is trading initial cost for the interest rate.If you're planning to hold/live in the property for longer after the point, buydown is the way to go.

Sounds like my wife and I may have to put initial properties in her name since I'm not currently planning to return to a W2 job anytime soon. 

I’d like to see initial cash flow of $400-500 a month, and hopefully to have that increase over time with appreciation.