Although, there are costs associated with forming and maintaining an LLC, such as state filing fees and annual reports that are to be noted. 

To mitigate this risk without using an LLC, consider:Umbrella Insurance: This provides additional liability coverage beyond your standard homeowners insurance.Equity Stripping: This involves placing a lien on the property to make it less attractive to potential creditors.Land Trusts: These can provide some anonymity and protection while allowing you to maintain personal ownership.Insurance:Ensure you have comprehensive insurance coverage, including:Property insuranceLiability insuranceFlood insurance (especially important in Florida)Loss of income insuranceLegal Structures:While you've decided against using an LLC, consider consulting with a local attorney specializing in real estate investments to explore other potential legal structures that might offer protection without the tax implications you're trying to avoid.Property Management:Given that you're based in Europe, consider hiring a professional property management company to handle day-to-day operations, tenant screening, and maintenance issues.Market Research:Thoroughly research the specific areas in Florida where you plan to invest.

Even if you manage to be the first person in history to maintain the corporate veil of a tiny corporation.

And then there is accounting, invoicing, marketing and advertising, legal expenses, liability, insurance...Oh yes, and ideally you want to maintain a decent profit margin on top of all that.

The better you manage your investment, the more money you will have to maintain the property or save up for the next investment.

It memorializes the rules, rights, responsibilities and structures, the roles and framework of the business, your agreements and roles of your partners, and most importantly maintains your limited liability in the event of a lawsuit.

Cost efficiency makes it cheaper to set up and maintain than multiple LLCs.3.

Maintain all communication via text/email as much as possible. 6.

It was a very interesting perspective and he is very highly regarded as well.I tend to personally feel the next 2 years are going to be mostly a lot of the same as now, operating properties to maintain rather than growing a ton.

Hopefully, this first investment will launch our journey in real estate.Here are some criteria we have in mind:Not in downtown SacramentoClass C+ or B location, since we will be living in one unit (we just want a safe location)Units with shared walls, not ceilingsSeparately meteredFairly renovated or well-maintained (not a fixer-upper, but if one unit is renovated and the others need some work, we would love the experience of fixing and renovating)Can you think of any other factors we should consider?