I usually  do not fool with any courts and just add it to my education  ( but I think , in this instance you should go to court.

Even if I somehow lose $700 a month on this property in unexpected repairs and maintenance, I'd be in the same cash flow position that I was previously, but now 1) a portion of my cash outflows (principal payment) goes to my own equity, 2) another portion of my cash outflows (interest, taxes, insurance maintenance) is tax-deductible, and 3) the remaining portion of my cash outflows (replacing a roof or a stove, for instance) is tax depreciable.

There is an asset you have that is coveted by a potential partner, even if it's time, for instance.  

Land, for instance, does not require a site visit if its purchased properly.Most new investors simply need to get the first deal done to get the jitters out.  

In some instances it might make sense to buy a home with cash (maybe it will make a lower offer more attractive for reasons others have stated) with the plan that you will refinance for 70-75% of the value - extracting a majority of your cash out of the deal. 

You could use her damage deposit for some of the damage but this sounds like an instance to eat it.Eddie

For instance, a home that just needs to be torn down, etc.

For instance, if I loan you 100,000 at 10% interest for 1 year, I am expecting a minimum of 4 months interest only payments.  

@Chad Urbshott  thanks Chad I saved that... although the info is a little convolutedin our state for instance they have the judicial rules mixed in with the trustee's rules since we do both these days but its a good baramoter to start with.

For instance, do I need to call the series "Real Estate llc" Series"Address" OR can I just use the address as the name -  which is a proxy for whatever the heck I want?