You can start with Option 3, but when you decide to upgrade to option 1, you have lost the anonymity in the process when you transfer the member to your holding.Option 2 is a no go, as if you need to go to court, lets say for an eviction, the court will not recognize your out of state LLC and you will have to foreign register it in that state, making you pay the fee in two states instead of only one.Option 4 is a personal decision regarding your risk appetite.

I'm a call report junkie so I like to look at construction loan and commercial real estate exposure as a percentage of the portfolio to see what the bank's appetite is for real estate.Karin DiMauro don't discount the ability to use the asset you are rehabbing as collateral!

Bon Appetit :)

It really depends on your appetite for risk in my opinion.

From then on, my appetite for learning about investing grew and now I’m working towards achieving my goal of buying my first investment property in the Bronx by the end of 2023. 

appetite for riskYou can absolutely get a job in RE but keep in mind that it is a cyclic industry where you have to be entrepreneurial to survive downturns, especially times like now when a lot of RE firms are 'trimming the fat' (true in general but even more so in RE)If you're dead set on a W-2 in RE with a good (it's relative, compared to tech, W-2's in RE aren't nearly as exciting) salary and stable, try looking at working for a developer maybe as an analyst.

They might ask about ADA compliance, number of parking stalls, designated Handicap parking, do you have grandfathered in fire suppression, etc.  

Will Wall Street sell houses by the dozens/hundreds due to a change in their investment appetite?

Both options you've presented have their own advantages and disadvantages, The decision of which option to choose will depend on your personal financial situation, investment goals, and appetite for risk.

Yes, most people might not have the stomach for it; however, others who have the personality and risk appetite can do this, for sure.