You may end up with a piece of land in the middle of nowhere that now you will have to pay the property tax on, or a lien on a property that the owner has file bankruptcy on. 

Real Estate Rewind Starting over http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book Good luckPaul

Does any one know about documents filed at County clerk website for transfer of properties.

If one party won't sign the title company files and interpleader with the courts and it can take over a year to get EM back.. and the offending party is not punished in any way...

Real Estate Rewind Starting over http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book Good luckPaul

Do they hit deadlines?

This time I plan to use the knowledge I've gained to get out here and try to lock down my 1st deal.I'm still working on a few details and I still have questions but I'm giving my self a three week deadline starting tomorrow to at least send yellow letters or postcards to potential motivated sellers to possibly get my first deal.If anyone has any advice it would be greatly appreciated and I hope to connect with many of the investors in my area in the near future.

You can file most of them online.

Lots of discussion about this topic and that search time should find them.You will have to file state taxes in both the state where the rentals are (if it has income taxes) and in your home state.  

To form a company, Pay yearly LLC renewal fees and also file tax returns, I dont see how this is worth it unless I am missing something.