I'm digging the advice and support in this thread.So basically, I have a few options that revolve around developing either an S Corp or LLC...- Develop said entity in the state where I'm investing-OR- - Develop said entity in the most tax favorable state of one of my partnersI'm assuming the former is probably more along the lines of what I want to do.

I currently have cash to buy some properties but am try to figure out the best way to start to develop credit for a new LLC.  

But network until you find the realtor that is looking to develop a business relationship long term.All the best!

(Make sure you're scrubbing your database.)

If you don't already have one, develop a relationship with a good broker and get real comps and CMA's and learn how to interpret them.

I really have been pleasantly surprised by a lead that came from my Craigslist ads that has developed into a huge deal.I have a family that was losing there farm to foreclosure who contacted me asking if I could buy there farm and allow them to stay there.

It forces me to develop a system that allows the business to primarily take care of itself.Additionally, once I develop an efficient out-of-state investment system, the deal possibilities are endless.

I will build my portfolio of buy and hold properties to develop a passive income of 5k a month as my primary business goal.

If a property develops a leak with existing tenants and I did not take possession whom is responsible and what happens if a ton of damage or a tenant vacates in the grace period and I cannot afford the loan without the tenants income then what? 

I'm hoping Bigger Pockets will be an valuable resource for me and help me to grow my business.I am currently studying for a Masters in Real Estate Development.