If you can get a 4 unit and a basement, that would be ideal and create major cash flow and equity creation, plus you can not worry about a property manager and boost your yield.Also, you don't get the tax benefits when you rent ($250k capital gains exemption if single, $500k if married). 

Jens, Jason Wexler http://www.agh-lawyers.com/Wexler.aspx is pretty good.Also Becky Tores http://www.torreslawnm.com/both are good people and good attorneys, I am unsure if they are the best local Entity creation attorney.

This is only taking into account the cash flow, not the other forms of wealth creation below, which would further add to my ROI. 

Cash-flow, long-term wealth creation, excitement in making money rehabbing an historical building.

The identifiers I have are:Federal and state capital investmentsDiverse Economic Engines, (stablility, growth, and creation)Municipal Infrastructure (city services)Transportation systems (imports/exports)Quality of life (leisure, entertainment, cost of living)Tourism drawReal Estate Price Points (Can money be made...cashflow rentals, landbanking, etc)Any insights would be great!

I chose the creation of LLCs to hold the properties.

MANY times prior to creation of a zoning ordinance or prior to a change to the ordinance properties are being used and their existing use is grandfathered in even if the use conflicts with the new ordinance.

Looking for recommendations for LLC creation with:- registered agent services- virtual officeany lead will be appreciated :)

There are a lot of great options out there; aside from providing the basics (ie. listing tool to get the property published to 10+ major sites, scheduling tool to schedule viewings, tenant screening with comprehensive applications which include nationwide criminal background checks + credit checks + eviction history, digital lease creation tool, rent collection tool, and maintenance tracking tool), some services also offer your tenants additional capabilities which makes it an easier sell on your end when getting them to transition over (ie. their ability to report on-time rent payments to the credit bureaus; this can create an added incentive for making sure they pay that rent on time).

I'm gonna suggest this book before anyone else get the chance 😂:The 4 Hour Work Week by Tim Ferriss.this one is a classic in terms of understanding how to make your business efficient and how to think through the business system creation process without overcomplicating them. hope that helps!