Once you have your directors and can clearly articulate your mission, you can create one relatively easily through LegalZoom.

To me, safety is relative.

Quote from @Zachary Deal: A lot of investors utilize the BRRRR strategy in those markets as there is relatively high rents compared to the value of the properties!  

Quote from @Corinne Snyder:Hi Michael, my CPA will not allow me to claim myself as a real estate professional with my one rental single-family home rental property because I do not spend enough hours per year running it, therefore he won't allow any overhead expenses to be claimed; only expenses related to the property directly.  

Markets are relatively efficient and the strong cashflow days were 5+ years ago.

Just wondering how you feel about the unique challenges NOLA has relative to economy & climate change (insurance), population decline.  

My goal is to maintain good relation with tenants and have excellent communication.

Most of the sponsors do not have full real estate cycle experience but a relatively smaller number do.2) Most of these deals are protected under nondisclosure agreement.

The BP community can help out a lot with a relatively little amount of info.

To clarify, I had initially put the property under contract but had to back out of the deal due to negative inspection results, specifically related to foundation issues.