This includes the seller maintaining property insurance in their name with the buyer added as additional interest and mortgage payments being made from an account in which the seller appears as bank account holder. 

@Adolphus Fletcher For multifamily investing, most real estate investors typically use an LLC for several reasons:Liability Protection: LLCs protect your personal assets from lawsuits or debts associated with the property.Pass-Through Taxation: Income and losses from an LLC pass through to your personal tax return, avoiding double taxation seen in C-Corps.Flexibility: LLCs allow for flexible management structures and are easier to maintain than corporations.Anonymity: In some states, LLCs can offer a degree of anonymity if you use a registered agent and form the LLC in a state that doesn’t require public disclosure of members, such as Delaware or Wyoming.S-Corps are should be avoided for real estate investing because of various reasons.

My list includes - last 2 years employment history and current employment [2 paystubs], criminal checks, eviction checks, No Pets, No smoking, tenant pays utilities, maintains landscape, no subleasing, bring own washer & dryer, 1 month security deposit and transfer of utilities before moving in, rental insurance, all occupants will be on lease, notice period of 2 months for termination, tenant references, No cosigners, no painting walls, late fee notice, any hoa fines should be paid by tenant, inspection of property at 3, 9 and 12 months.Please let me know if I am missing anything.3.

Since real estate tends to have a lower correlation with the stock market, it can serve as a stabilizing asset during economic downturns.

This sets you up for succession planning as well, if you ever wanted to sell the gas station operations but maintain the real estate for the passive income that sets you up to do so easily.

This proactive approach has made a significant difference in maintaining positive cash flow and ensuring long-term success in my investments.Key Lesson #5: Build a Strong Network Finally, I wish I had focused on building a network of real estate professionals earlier in my journey.

No stock screenings, no work, set it and forget it, exposure to a broad range of good companies and different sectors of economy. 

Milwaukee and Chicago have very similar housing stock. 

After accounting for social security and other investment income like IRA/Lifeinsurance/Stocks (of which was made possible because of real estate cash flow)  my mother would be classified as part of the1% and earns a corrsponding Passive income.  

These assets encompass 33 houses and a $5.5M stake in 2000 units of multifamily across AL, AR, CA, FL, IL, IN, MA, MO, MS, OH, OK, PA, TN, and TX, and also cash, stocks, and renewable energy.