@Lynn Chew In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Pick a specific time, sit down with a nice glass of wine and tell her just how important this is, and how important you believe it will be for your families future.Let her chew on that for a week or so and then have another conversation where you announce your plan to buy a 'safe' property.

Do dogs claw or chew on window sill , carpets ??? 

Brand new blinds (2 small ones in the living room) have been chewed up by their cat.7.

I am a qualified taxpayer and elect, pursuant to IRC Section 469(c)(7)(A) to treat all of my interests in rental real estate as a single activity starting with my 2021 tax return.Now, because this is so significant, you may want to chew over this. 

I just hate to see new investors bite off more than they can chew on their first deal... struggle... and than decide to stop investing.   

In one case, the mower came back with the gas tank off; in another case, the unapproved dog had chewed any rubber it could get to it to bits. 

The other mistake I made was always biting off more than I could chew on a project where I could lose a lot of money because I didn't know how to implement the right plan.

All this would have to be done while being able to purchase my next property for my family and I to live.I know its a bit to chew, which is why I am asking, but I am grateful for any help or insight!

The key is that it's for people who are in the business of real estate investing - not dabbling or considering it.When you look at the costs associated with setting up a three-tiered system and all you are going to do is chew it up using accounting fees and legal fees, then don't do it.If you're going to be a true real estate investor that plans to grow their business and continue to grow it as time goes on - the three-tiered system is the system you need.The ProblemAs Gary mentioned, most investors only buy a few properties.