Next, you will need a real estate attorney in your state file a quit claim deed to change the title to the llc.

Acquired the rest, admittingly quite reasonably during the great financial crisis, for cash. 12 years later my cash flow is over 6 figures per month.Remember, no matter how much investors promote leverage, interest is still a huge expense.

Don't start dreaming of quitting your job and living off the rental income (it is possible but will take a while).  

I'd suggest posting your location as prices will vary depending where you are (as will usage of the HVAC).The price difference is quite a bit. 

I used it and am well satisfied.previously, my will/trust was done by an estate attorney who charged me about $2,500.  10 years later circumstances have changed quite a bit and same attorney quoted $8,000.  

Awesome to hear how you have your structure set up @Shannon Mogilinski, it's quite obvious that you all are dialed in on your proccess - I love it!

Your future self will thank you when the HVAC doesn’t quit in the middle of summer!

Start with house hacking you are in the perfect position to do that and then no matter what you do with REI (even if you hate it and you quit) you'll be better off financially than your peers because you made this decision.

My lender just called me quite flustered to say that he has learned that no one is doing the traditional 10% down loan for second homes, which is what I was going to use.

Over time as rental income replaces earned w2 income, if one spouse quits their W-2 job to focus on real estate, that spouse could qualify as a real estate professional, allowing you to use real estate losses to offset the other spouse’s W-2 income.