However, I don't know from a practical point of view if it's doable 2) Condo vs townhouse vs cashflow: I noticed condos  and townhouses are way cheaper in fort myers FL ( however risk of hurricanes) and maybe more opportunity for cash flow.

With enough knowledge you can make a educated decision on which approach you take.My experience:I personally don't sign up for any program who take you aside during events and try to sell packages that is just blatant sales strategy.Once you sign up there is every attempt to make you sign for their programs for bookkeeping, registered agent, LLC or corp setup fee which have ridiculous even with platinum membership.Basic standard structure they suggest to take advantage of multiple deductions can be easily achieved by proper education or work with a good firm like https://wcginc.com  who is local to you.A umbrella C-crop to manage all other LLC properties and take advantage of many tax deductions that are not available with a llc, its also used to take losses up to 100K as startup expenses and dissolve the entity after few years.Few LLC entities for investing in Real Estate, etc preferably in Wyoming or Nevada ( you can find many companies online who can do this for $150 compared to anderson $1500-$3000) , they will claim they have a secret Operating agreement which is bogus.They certainly try to take advantage of tax loopholes and claim to be smart people, my view they are just taking advantage of numbers as per their own statements.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

I think because it's so competitive to survive in California, and being accustomed to high prices, they view the rest of the country as opportunity. 

@Tim Delaney is an investor in the Buffalo market and shares many of your views on its long term potential!

Meanwhile, the adjacent property with a view of an industrial park will consistently get lower rents. 

From a birds eye view and in a perfect world people would buy a property and their tenants would pay for it.

Yes that’s what I was initially thinking… then I started to structure the deal in my head and it looked a lot more like what you described with a partnership.

California views all rental activities as passive activities, regardless of whether you qualify for Real Estate Professional Status (REPS) under the federal tax code.You are correct in that the minimum hours required for REPS are 750 hours.

Mentioning unique perks like 'Game Room,' 'Lake View,' or 'Pet-Friendly' can really draw people in.