In many cities, I am seeing significant quantity of unit construction starting too take place and housing prices rising extensively.

I love participating and sharing on the forums here.It helps me to learn, network and understand what others are doing.One should design their systems in such a way that they have sufficient time for participating in activities which add more value to oneself and others.80% of the results come from 20% of the work you do.

Work your way up in quantity that will ultimately allow other people budgeted and paid for Property Management Company running the daily operations and you are responsible to manage the management company without having to come out of your own pocket.I have heard that it takes about 30 units before you can afford a management company as a regular expense that property will pay for. 

I wouldn't rent to someone that is short of my monthly income requirement UNLESS there were sufficient compensating factors that would mitigate my risk (ex. co-signer).

Another picture is NOT sufficient. 

Those funding sources are public record.I would also become the squeaky wheel who wouldn't miss a single one of their REI meetings until the word was sufficiently spread about how they do business.The support you will find on this site is great but getting your money back, or some/most of it, will be better.

It's a sign that you are willing to move to make your first investment.What you should do while you are dealing with your first investment is to learn about how to recruit investors and/or Partners so you can start purchasing apartments but start off small and work your way up in quantity as you learn. 

Again, with that in mind, partnering with just a couple other like minded individuals with similar investment amounts and you’re talking a significant type of a property that could easily justify sufficient cash flow to take a more hands off/pressure off approach.

Is that sufficient?

The Operating Agreement must contain language sufficient to address IRA-related issues concerning Prohibited Transactions (26 USC 4975), The Plan Asset Rules, the allowance of subsequent or additional Capital Contributions and Unrelated Business Income Tax (including language that ensures that the Manager of the LLC will prepare and file all necessary tax forms with the appropriate taxing authorities, Federal, State and local).