Again, just a newbie here, but I have been reading a lot and watching a lot of videos and I have flight of ideas with all of this info coming in...

Before I could get out “It’s an eagle”, it stretched out its majestic wings and took flight right in front of us.

You will need specific documents for a LLC account - but at least you can get their advice before you jump on a flight over here.

In some areas utls will stick as well.I ran into a friend of mine on my Flight to Vegas yesterday and she said her brother has been active in your state .. peaked my interest I am going to check it out and maybe set up a team there.. 

There are other guidelines I follow too - I won't buy a place unless I would be willing to live there (I'm picky, but not horribly picky), I need to be able to visit the property without an airline flight being involved etc..

This is not to mention the staring difficulties of finding people to trust in my chosen market.On the other hand, I could reduce the risks that come with out of state worries (flights, PM's not doing their job, etc) and buy locally in the SoCal area.  

The problems started when people seeking jobs and a better life (often from Chicago) came to the neighborhoods left behind during white flight.  

As someone who lived in a different country, many lenders consider us a flight risk who won't pay back a loan.A local person for Partnering or having an LLC could add credibility.Ask the lenders what would make them more comfortable.Good luck and remember*DFTBA*Don't Forget To Be Awesome 

@Chris Herrera, if this is in Bensenville, how close are you to a flight path?

Consult your tax person about deductions that come through holding rentals including interest paid on a loan, management fees, expenses, drive or flight costs to visit the property, depreciation (isn't that nice on an appreciating asset?)