I'm new to creative financing, so I appreciate any sage advice from those of you who have done this quite a few times.

It depends on if IRS considers you an investor or trader. they look at different factors, I pulled court cases where they looked at these:(1) the taxpayer's investment intent; (2) the nature of the income to be derived from the activity; and (3) the frequency, extent, and regularity of the taxpayer's securities transactions (Kay; Mayer; and Moller)  A taxpayer is a securities trader only when both of the following are true: (1) the taxpayer's trading activity is substantial; and (2) the taxpayer seeks to profit from short-term swings in the daily market movement, rather than to profit from the long-term holding of investments. 

Growing from 2-4units to larger building is natural progress, i don't thing is "biting off more than I can chew?"

@Greg Horowitz  naturally if the property is older and not rehabbed you will have higher maintenance.

What is the nature of the work?

Reality would have proven the need beyond the shadow of a doubt.I believe the protection of a LLC is primarily physiological in nature.

I am intending to use an FHA loan (or FHA 203K loan depending on the nature of the deal) to fund the purchase of either a one or two unit piece of real estate.However, I will be leaving my job soon to pursue an entrepreneurial opportunity.

The problems are all natural, like pipes bursting and roofs leaking. 

I was wondering I other investors would switch to natural gas immediately or would they hang on to oil for another winter?

It’s generally in my nature to “go big or go home” and I can see how that could easily get me in over my head before I’m properly prepared.