Question for 1st time Property Manager & Investor

[Jake Humbert]

My best friend has the funds & wishes to essentially be a silent investor.  I am a realtor & will be the property manager.  We are under contract on our 1st home.  

What are the most important things we need to know/study about asset protection & tax strategy?

We know that we have a lot to learn but when it comes to leasing out properties but we don't know what we don't know (if you follow me) in regards to tax & asset protection.  

The guys from Fortune Builders keep calling & emailing me about those subjects since I recently attended one of their weekend conferences.  Does anybody have an opinion on them as a resource?

Thank you so much for you time!