Trading on margin or investing in real estate with leverage are both acceptable practices in my mind.  

A Lawyer in Michigan would be the place to get the best advice as these practices can vary by state. 

We are looking for recommendations on a good Lawyer and CPA that practices real estate law, taxes and strategies.

How practical is acquiring land to dev mini home/1-2 Bedroom functional home? 

I know that running comps is something that needs practice to understand, but as somebody who is still learning, I like getting a rough idea through dealmachine/propstream.

But I'd caution you with this practice as you will most likely not receive the holistic and competent advice you should be receiving, which can be critical to a new start-up's success. 

Not sure how we practice "False Scarcity" and "Gaslighting" as our current investor claimed in prior replies further above.We dodged a bullet with one Kelly.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

@Michael Plante @Bill Brandt @John Morgan Glad to see it works in practice and not just in theory!

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.