The suburb itself has a mixed reputation.

Will Kat's bank statements show the rent payments coming out each month, or is it all mixed up with other expenses?

I just bought my first property last October (duplex in St Paul), and I work a mix of W2 and 1099 jobs as a violinist.  

That mix of paper and real property makes the most sense to me.

The listing agent had a "ridiculous" assertion that you could build a 2-3 story mixed use development on the land.  

Riviera was developed as a retirement area years ago, and is a mix of stick built ad mobile homes, mostly older mobile homes these days.

Well for general considerations about whether to have an LLC for rental properties or not, check out-https://www.biggerpockets.com/renewsblog/2013/08/1...Read through the comments too as there's a lot of info in those too.One major comment would be, and an accountant or an entity specialist should bring this to your attention, is that rental properties and flips are two different things as far as taxes....passive income vs active income...and those should not be mixed under one LLC.

I plan on doing a mix of wholesaling, fix & flips as well as buy and holds; whatever makes sense at the time for that particular deal.

And you also (if you're going to mix students with families) have to go beyond thinking about just noise issues but think through parking situations.  

We paid about 5k to replaster and retile the waterline of a 25000 gallon pool...blueish quartz plaster mix last year.