I just starting using truepeoplesearch.com as well. 

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

While you should always consult a CPA and/or attorney for their professional advice, here's my 3 cents (I'm sure others will chime in as well):1) Having an LLC may make it "easier" to track but it's not needed in this situation as you can run this through your personal return just as well.

Considering the area  I am not sure how this poster's LTRs are going, but I own 2 in the area and have helped multiple investors buy and then lease their LTRs in the Buda/Kyle area as well - all are cash flowing.

Have a great foundation repair company in your contacts list as well as a great structural engineer.Some flippers thrive on these properties as without repair they can be difficult to finance with financing an owner/occupant would use. 

Hi Rebekah, I own in South Milwaukee as well.

It's crucial that this allocation is reasonable and well-documented to withstand IRS scrutiny.

Don't forget about single family as well as to cut out 80% of the deals.   

Happy to assist you and your wife in any way that I can with your funding needs as well as advice/input on your projects. 

Well done Vince!