It is obvious you have no idea what this work entails or have experience with it.

A preliminary will give a search back to the last transaction, that could entail searching estate issues, court record searches of incapacitation or competency issues and other matters that RE types simply are not trained in, so have the experts do it.Cost of a preliminary report is much less than a full search.

Talk to @Brandon Turner to find more about cash-flow producing properties, and the amount of property management it entails..

This entails being a lien holder and carrying a note on the property.

From what I've heard here in OH, if they're in default (30 days past due) and it appears beyond fixing, and they have been there 5 yrs or have 20% equity (using contract price), then your remedy is to foreclose (versus evict if they don't have the 5 yrs or 20%).If faced with the foreclosure scenario and the 6-12 mth time period that will entail in OH, you should entice them to leave quickly and with no damage to the property.

If you don't have the appetite for risk a value-add strategy entails, dividing your current capital into down payments for turn-key properties will also work, but there is the drawback of equity being left in the deal while you save for the next one.

I am not too sure what that balloon payment entails though.

BP Community, I've recently seen a bunch of SF homes and I cant help but think there are tons of untapped potential in some older properties. For example, a 1600 sqft house that has two living rooms...my immediate tho...

I genuinely believe its best to explore all your options to find the most beneficial route to take whether that entails having an LLC or not.

Leverage entails risk.