Must haves prior to starting

[Michael Leland]

Greetings BP!

I'm a high earner in healthcare but want to get to a future where I can stop trading my time for money and live actively pursuing "passive" cash flow. My goal is to invest in CRE and hopefully scale to larger retail / office / industrial properties. I'm not ruling out the other CRE asset classes.

I've been long researching and educating myself about structuring deals, adding value, etc...

My question is, coming from a highly litigious setting, what are the minimum legal/business structures I should have in place prior to joining in as an LP in deals and eventually as a GP with smaller deals prior to scaling in the future? I already have a CPA and I'm looking at options such as setting up with anonymity in mind with a "parent" LLC in Delaware, for example, which would contain other LLC's/ land trusts in Texas / etc where I will be involved in deals.

I'm really feeling like I'm to the point where I should get involved in deals as I'll never feel "done" with research. Coming from the perfection mindset I'm consciously shifting to avoid analysis paralysis. I realize I need to do my due diligence but need to reach out to others and fail forward along the path with learning opportunities.

I would appreciate your input!

Thank you so much!