Open question for sincere advice about buying property.

[Jessica G.]

Hi, Bigger Pockets Family!

       My husband and I have plans to invest in Real Estate by the end of this year and I had some questions in regards to how to start. We want to Buy and hold for passive income via cash flow.  The decision is made and we are committed to creating our own portfolio from now on. 

What do you think is better to start this venture?

 To buy as a married couple and get a traditional mortgage (we do not plan to live in the property)

or

Form an LLC to buy the first property within that?

or

Buy as a married couple and quickly after that transfer it to an LLC

What are some of the ways you guys started your first Buy and hold investment properties?

What is the best way to do this?

Considering that we are currently living in NYC, and this is very expensive for us at the moment, Where do you all think would be the best market to start? 

We were considering the following areas:

1. New Rochelle, NY
2. Jacksonville, FL
3. Pueblo, CO
4. Cleveland, OH
5. Las Vegas, NV

We did some research and figured that the above locations are good areas to invest in this year. 

Our goal is to have multifamily with a minimum of two units: however, the areas above like Pueblo, CO and Jacksonville, FL are single family homes, so we can adapt to the market as long as is profitable.

Also, What do you all think about turn-key investment companies, We seen a company called JAX investments in Jacksonville, FL and wanted to know if anyone used them and how was their experience working with them as well as how was the process for you. They seem to be solid and take care of the whole process, from buying, renovating, renting and management the property, and still, they promise that it could be profitable for us. We are aware that a turn-key will cost us more money; however since we are new to RE investing, we want to minimize our risk. 

We are looking for a range between $50000 and $350000. We are committed to making a 20% down payment.

Thank you all in advance for your input!

Best,

Jess G