I’m new to investing and have a flip with a big loss under my belt and am very fearful to pull the trigger again, but know that real estate is the way to freedom.

You can but you run the risk of triggering the due on sale clause.No need to have in an LLC.

You can consider doing a cash-out refi on one or two properties, but I’d also wait a while before pulling the trigger on that.

My daughter and son-in-law opened their own business 3 years ago and so far have done well, but he built a good reputation in his field before starting their own, she kept her good corporate job for benefits, and they are now looking to invest in property with the profits, hoping for more passive income in the future as they’ve realized how much extra work a small business is with compliance, licenses, workers comp, etc.

You need to make sure the policy/coverage you get is designed for this use and not a standard homeownes policy.The Lawyer and the town can give you an idea of the Modifications you may be required to make due to:- ADA compliance- Fire Code Compliance- other Laws/Ordiances that may be triggered when you move away from a Residential to a Commercial exposure

well that's not good.and or they bought the note on the proviso that he would or his team would work the note to try to get it back in compliance and they did nothing ? 

**Ongoing Compliance**: What are the ongoing compliance requirements for maintaining an LLC?

I have been lookin into pulling the trigger on deals in Detroit that are already occupied.  

Also some states do not allow you to seller finance if you have an existing mortgage - others require the sales price to be above the existing loan and cannot mature before the existing loan.Definitely need to get an attorney involved who handles state compliance

If you purchase the property using your own name with a conventional loan mortgage, then transfer it to a LLC, it may trigger the due-on-sale clause, taking the risk that the lender will ask you to pay the loan balance back immediately.We can only choose one of it, not both of it.