I suspect this is more for passive cap gain type stuff.. not ordinary income for those in the industry.. and or might work for the private individual who does this totally passive IE a broker brings them a note..

You will have a higher interest rate, but if you are able to cash out enough equity to purchase another investment property, than the higher interest may very well be worth the income that you are bringing in on an additional property. 

and build an accessory dwelling unit (ADU) on  Prop 2 which would generate about $2400/month gross rental income, bringing that property's income to $6,000/month.

I know there are certain things that I need to bring with me to my firat meeting with a lawyer to set up an LLC.

I have other plans but "Plan A" brings me rightly $1k in cash flow.

I'm sure I'll get plenty of people telling me I'm doing it all wrong to begin with but this has allowed me to bring in the money to correct a lot of my past mistakes so just looking for advice on this please and thank you!!!

We currently have 1 rental property that is going well and we decided to move out of our home and use it as a rental because it would bring in significant cash flow.

Here's the info: (I copied and pasted)10 units2bed/1ba- Full rehab need so be prepared for work but it's has great rental potential-Section 8 will bring 650 a unit, will bring in 6500 a month and 78,000 a year-I have a contractor that can completely rehab them for 9k a unit.- 90,000 in repair, but you will be getting a practically brand new 10 unit apartment for a little over 100k with an annual cash flow of 78,000.

Also, it would probably be safe to bring the rents up a bit. 

Then what does he bring to the table if its almost the same as you then not really worth it.