@Maria Rina Boidon Tough to really dive in with the high level info but first I'd determine how you want to invest in multifamily.

LLC protection is important generally, but not nearly to the psychotic level that people talk about it for the first investment.

I've got to go take care of some HUD tenants James, sorry I didn't answer the question to your satisfaction, I can imagine that must be frustrating for you to think that I have to do something to the level in which you require in order to be sufficient.

Get a base level of experience.  

Other books are either high level how they got into PML or how to raise private capital (not as the lender).

Paperwork says depending on Level 1,2 3 the tax is reduced. 

More sophisticated and experienced investors, and those employing knowledge attorneys will understand that while not an absolute, a REG D offering offers some amount of comfort in that the sponsor has placed his offering on a more “sophisticated” level than an intrastate or general exemption offering.  

Just like it would be difficult to find a local team member at an average labor price to be a web designer/coder, social media manager, and researcher, it's also difficult to find a VA who can do it all at a quality level.

I find this level of underwriting lacking with many flippers as well, failing to properly consider the holding costs, insurance costs, taxes, etc.

Putting credit lines in place might make sense to have the capital available if a sure fire opportunity comes your way, but I would learn to get a certain level of comfort with paid off mortgages too.