Part of the reason for me wanting to move to New Orleans was because I missed living in a large, vibrant city with constant action and part of the reason was I saw more opportunity for real estate ventures within New Orleans as well. 

The first one in any new profession, venture, hobby is always the hardest.

Have you considered partnering or Joint Venturing (JV) on deals with others?

@Ryan RuncheyAside from DIY approach and the outsourcing approach, there is a middle way, and it may be just be the golden path for many newer investors.There are companies that will set up your account, customize it according to your needs, train you on how to maintain your own books, and help with support or troubleshooting when problems arise. 

Income Digs has great YouTube videos on how to tailor QBO for real estate investors if you're looking for a DIY approach or some education on it. 

@Chelsie Hall - I just finished a CSS Decision Diagram flowchart intended to bring together all the various questions when assessing the benefits of a CSS (via a professional or DIY).

Did this venture ever take off.

It sounds like you and your best friend have a solid plan in place and are eager to get started.Regarding your question about structuring your business, you're correct that forming an LLC is a common route for real estate ventures due to liability protection it offers.

If it was one mouse I might try the DIY approach. 

Having net worth is helpful when seeking borrowed money for business Ventures, as some of the men above have already pointed out.