Prepare yourself and then be ready to pull the trigger. 

Four units might trigger the need to add sprinklers, but you should be okay with 2 or 3. 

But if I hadn't pulled the trigger on the first property, I wouldn't have bought the second, or the third, etc.Pull the trigger!

Just afraid to pull the trigger!

I am getting closer to pulling the trigger.

Have found several deals, but looking for some more information before pulling the trigger. 

That way you'll have custom tailored financing lined up when you're ready to pull the trigger on the next property.  

Specifically, if the title to a property is in my name and I deed it to an LLC (setup as a partnership) that is wholly owned by myself, does it trigger a taxable event? 

REI has historically been very competitive.Cash is not king in real estate investing...deal flow is (lots of it).If you don't start now, you will have no experience or relationships if a correction occurs.If a correction occurs, lending/capital sources can dry up.Investors over-estimate their ability to pull the trigger when prices are crashing and there is no end in sight.If you can generate even a small positive IRR from real estate during an economic recession, idle cash is the risky choice (and is very costly over long periods).All properties and markets will not loose significant value in the next down cycle (real estate is local and good locations will always perform well).Investors can add as much or more value to a property than the potential loss of value in a downturn.If we have capital that we have to put to work, prudent real estate can be the flight to safety.I don't like investing into a hot market but sitting on the sidelines for years is not a viable strategy...just have to be really careful.If you are a market appreciation only investor, ignore this post...that can require some market timing.Interested in everyone thoughts.

If the lender finds out (which they likely won't) it could trigger a Due on Sale Clause / Default.