Rents may go up, but they don't have to go up at the same rat e as the house appreciated, so connecting the two this way can be dangerous.

Considering the lack of disclosure, inspections, and other guarantees baked into a standard market sale it doesn't seem to me like buying a foreclosed property at a 4% discount makes good sound sense unless there is a way to get a competitive advantage in the space.So, in theory "yes", but ideally this space will cool off and that discount will grow to a more reasonable risk-weighted level 

There are a lot of excellent softwares available that are free for tracking or very inexpensive if you use certain upgrade features like online payments or e-signature.BiggerPockets just announced FREE access to RentRedi for all Pro Members.

For a print / hard copy for local people stick with Word or PowerPoint . . . very simple and you can make it as impressive as you want.For web-based use, even a basic web site builder allows you to insert pictures and if you are using E-mail, simply save the hard copy file as a .PDF and attach it to the E-mail.If you want I can send you what we use . . .

E-mail a copy to your agent and the title company.

This is the e-mail we send.   

It will also be less costly to file a schedule e on your personal taxes than separately file an LLC.

What's your e-mail ?

At the end of the day, long distance investment is mostly a series of phone calls, e-mails, and studying the market, all which can be done while taking baby for a walk or during nap times!

E g your LOC’s add up to $200,000 and a decent investment property is $150,000… if so then to me you can always pull that money back out via refi, or via a sale… this might be wayyy to simple as I didn’t look at where you are from but even so a version of it could be possible even if you have to do REI out of state.