Thank you for your input, @Steven Hamilton II and @James Miller  I was told by a long-time and well-respected real estate investor that for out-of-state buy and hold properties, I should create a NV LLC with me and my partner as members, and then have that NV LLC be the sole member of the other out-of-state LLCs (a Texas LLC and an Illinois LLC).

I really enjoy your information on Lease Options and respect your successful track record.

And yes, the Mormon influence is "different" but I've never had more respectful, hardworking and trustworthy tenants.

Every time you add an expense / profit add it into the respective line item.From your expenses / gains you can create ratios, etc on another sheet.

Any / all advice is much appreciated.To note: These people seem to check out in many respects.

It works in my favor in this respect in that house wouldn't sell for this in todays market and works in his favor in that it gets him into a cash producung 2 family as he could not get a conventional loan at this point in time.regards,chris

Tod - In Texas, does every person on every crew need to sign the affidavit you mentioned or just the primary sub (for his respective crew)?

Here's a video of how not to landlord:

http://www.youtube.com/watch?v=wIrN-etPO0E&nofeather=True

Also -- I'll let you know who he is later, but we've got another speaker in the mix -- an author of 3 books who is definitely one of the most respected individuals in the business.

Rent checks go to the respective bank accounts.