These areas might provide higher returns due to lower initial property costs combined with tax savings.Rent Control Laws: Be mindful of local rent control or tenant protection laws, which could limit your ability to adjust rental rates or manage your property effectively.7.

I am also a software engineer though, and understand its features and limitations.

A CRM helps automate communication, track leads, and measure sales performance.

It's outside of the city limits and already zoned multi-use (previously used for a business and a home). 

Ian,With the limited of info known, the fees do seem slightly steep.

Unless there is some other constraint, don't feel like you have to limit yourself to those two cities. 

Quote from @Samuel Eddinger: @William Collins - my perspective is always that you are always either cash or opportunity limited. 

Between forced appreciation on general improvements on the property and the capacity to add an additional residential structure, the sky was the limit on value growth.

From there you can decide how to structure the LLC or limited partnership. 

Your mentor is right, but within limits.