However, I'm now reading Dave Meyer's book Start With Strategy to learn more about whether long-term residential rentals is even the best approach or if I should be looking into other strategies, in light of my overall goal.After Start With Strategy I plan to read Set For Life by Scott Trench, but what other recommendations do you guys have at the strategic level?

From utilizing 1031 exchanges to offsetting gains with losses, the right approach can make all the difference in your investment journey.

That's incredible!

I inquired about the possibility of a two-company structure: A traditional LLC that is the public face of the activities (collecting rents, paying contractors, etc.) and managing the Series LLC with each property in once cell in it (in this case, Series LLC is serving as a holding role).Again, one attorney said that would be much better than a standalone LLC and that is recommended approach, and the other said it is waste of time and money since there are some requirements from Texas Real Estate Commission, which is requiring being a licensed broker in the state to operate in the managing LLC.So, just want to hear what other Texas investors are doing when it comes to series LLCs regarding these issues. 

They don’t effectively target motivated sellers.In fact, the market is saturated with these outdated and inefficient approaches.

I was approached by a wholesale partner and flipper partners (whom I’ve done private lending for) of mine about me purchasing 1.5 acres to develop 12-16 single family homes on.I would be responsible for purchasing land and getting it prepped to build. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

My customer service rep is a flipper and I love that because he knows why I want to do what I want to do and can discuss the approaches with knowledge.So far, the experience has been positive.

Your property management should send you pretty clear reports at the end of the year so as to obviate your need for such.If you have more than 3 units and self manage I suggest software - especially if you are considering expanding.I find Stessa usefulI also use buildium but not incredibly thrilled with it.  

The downside to this approach is that it can be time consuming and tedious to find exactly what you’re looking for.