Hello, wanted to get peoples thoughts on long distance rentals and how I should best prepare --I have two 3 unit buildings in Chicago that I have owned for several years.

@Zachary JensenThe originalPost “ why wouldn’t an accredited investor invest with no risk….”Why is it that people think there is no risk in real estate.

@Jessica Seppo,Many people take the cost of an LLC and funnel it towards more insurance and an umbrella policy.

Their focus is actually to buy rentals for people that already have money to invest, I had to go around asking about wholesaling. 

For all the terrible things people say about investing in CA and yes the being not  landlord friendly is true, we have great appreciation and generational wealth has been passed on.

Clearly there is a sizeable amount of people consuming content about this stuff.Furthermore, there are literally millions of entry level rental properties in the Midwest.

Flat rate vet's the snot out of people to assure QUALITY.

There have been brokerages offering flat fees and failed.

People even do this in Vancouver though it must be extremely challenging.  

I've also held of holding properties in individual LLCs that are owned by one S corporation, which allows for a 60 / 40 split between ordinary income (regular tax) and dividends (capital gains tax rate).With the goal of minimizing taxation and liability protection, what would be the recommendation from more experienced people here?