The plan is to purchase a residential multifamily in the New Orleans or Baton Rouge area using a FHA loan.I'm currently in the research phase, listening to hours of Bigger Pockets podcasts and reading Real Estate Investing by Brandon Turner.

House hacking and basement conversions have worked in my experience. 

The information shared is based on my experience and industry knowledge and should not be considered legal, tax, or financial advice.

Like @Bonnie Low, we also use Baselane and have had a good experience with it!

You want to mix in advertisements with quality content that people will want to read such as DIY articles, market statistics, and popular housing trends.

In my experience, you need to open the llc, then go to IRS.gov and get an EIN number.

Any other experiences?

@Jennifer Turner I heard and appreciated your empathy in reading this in your post: "We know they're hard working and would like to continue working with them rather than move toward foreclosure, but we know they're in over their heads if we continue under the current terms of the mortgage and don't want to set them up for failure."  

But, you already know that having property management experience.

My day job is being a financial professional, so I have good experience with underwriting and sales that I believe can be translated to real estate.