Hi @Bill Said, I would also add that the most important characteristic of/for a Qualified Intermediary is government oversight. 

Invest in solid fundamentals, then sit back and ride the price and rent appreciation curves.What is far more important is selecting the right location, tenant segment, and property.Location - The location determines all long-term income characteristics, including appreciation and rent growth.Tenant pool - The tenant pool defines income reliability, including paying all the rent on schedule, length of stay, and more.Property - The property defines the tenant pool, initial return, time to rent, maintenance costs, and renovation costs.If you choose the right location, tenant pool, and property, the odds of achieving a reliable passive income that keeps pace with inflation and lasts a lifetime are very high.

Having an LLC does not change the characteristics of the income.Income earned within an LLC that is passive income will pass-through to the owners as passive income.

I understand starting out and being on a budget.I can download a list of absentee owners, with no mortgage and 385 other property/owner characteristics, in minutes.

This cash flow/benefit has certain risk characteristics unique to it and The appreciation factor is a different story.

(Have been poking around there for awhile, haven't bought yet, know a local PM who is a great guy and gotten alot of data from him, done alot of database research, been in escrow a few times, but never panned out) Not a complete noob, but also very far from anything resembling really knowledgable.So i am looking at a property, 3/3 2800 sf poolhouse on acreage, has all (or many) of the desireable characteristics that one would want in this market.

We dont see your file so everything would be hypothetical at this point but you might encounter FHA SS rule (self sufficiency rule) if you're trying to do a 203k FHA loan on a 3-4 unit property so make sure you know all of these rules because they can be deal breakers depending on your specific property or income characteristics.

I am particularly interested in:The nuances and characteristics of different neighborhoods in Baltimore, including their investment potentials.Personal experiences in this market, including both challenges and successes.Recommendations for local teams - including real estate agents, property managers, and contractors.Strategies that have proven to be successful in this market.I also appreciate any advice on potential pitfalls or factors to be aware of when investing in Baltimore.My goal is to make well-informed decisions and start my real estate investing journey on a strong note.

The four factors that impact real estate prices, availability, and investment potential are: Demographics     Interest Rates    Government Policies & Subsidies    The EconomyFirst: DemographicsDemographics are characteristics of a population: its age, race, gender and income levels; the kinds of jobs held by inhabitants — and so on.

You do this by purchasing properties that match the segment's housing requirements.You will achieve this by utilizing the nearly one-to-one relationship between a segment's housing needs and the unique characteristics of individual properties.