And if I do this, then the LLC wouldn't hold any properties I assume and just basically be a management company, I think. 

I think basically the deal with ABQ is that there is very little growth and very little new inventory coming online, which means on the one hand you are protected from rising vacancy but on the other investment RE is expensive for what it is, as no new inventory comes online to push down prices. 

You can also seek out a 'Qualified Opportunity Fund' which is basically a syndication with the underlying asset being in one of these zones. 

Lender requirements actually vary a great deal on rent verification, but at the basic no overlays level I'd say about 85% of FHA DU findings come back with "no verification of rental history is needed."

Basically, you are doing your due diligence and finding the best tenant for your property. 1 bedroom units are the hardest to find for section 8 voucher holders and I believe there are over 19,000 voucher holders in SoCal.

Below is a link to basic info from the city site: https://city.milwaukee.gov/DistrictSevenCLO/Landlo...

Then we’ll basically have to pay closing costs again selling it right after.

Is it basically like evaluating an apartment complex?

Basically pool their money together and he would manage the fund.

After they are finally out I can take them to court again to try and collect my rent and any damages...Basically this process is a lot slower than I thought.