Hi, I have a an engineering firm and I would like to use it for buying rental property, can I do that or I need to open a specific LLC for real estate investment ?

Very rare the cost to build, including land, engineering, utilities, impact fees, etc. is less than the cost to buy an existing duplex.....in a comparable neighborhood anyway.

My question is that is it an industry standard for structural engineering firms who draw up the architectural plans for the work to require clients to agree to limit the firm's liability to $20,000?

I'm a 50 year old Industrial Mechanic, so I can fix just about anything, and my wife is a Industrial Electrician who has went on to get her engineering degree.

I am currently employed as an engineer and love working with numbers.

I have a bachelor of science in Computer & Electrical Engineer.

I currently work in Raleigh as a network engineer, but my real passion is real estate and eventually building a portfolio of rental properties and become a full time Real Estate Investor within the next year or two.

I'm currently an Engineer by trade, working 3 nights per week, so I will use my days to work as an REA until I make the full transition. 

The problem seems to be that you don't have enough income from your rental properties in Phoenix in order to quit your job as an engineer in the Bay Area.

I have a graduate degree from USC in engineering, still work full time, and do well, but working the 9-5 and trading my time for a set amount is what bothers me, I would say for any amount, but that’s not exactly true, but close.