It may be the most common professional background I meet (among non-pure play real estate folks).

If you think pure mathematically, the amount of tenants out there who are going to stay 5+ years and move during "normal" months is always going to be drastically lower than the folks who move ever 1-2 years and all months of the year. 

I've toured and it is rent ready so shouldn't have to do any repairs (maybe smoke detector batteries), appliances are brand new, mechanicals <5 years old. 

The last one is, of course, pure bunk and should be ignored, unless they relate to items 1 or 2.LLCs (limited liability companies) are governed by laws at the state level. 

:@Hai Loc that seems highly speculative and leaves a lot of time for something to go wrong and depending on how much needs to be put down, the return does not seem worth the risk even if it was a small percentage of someone's investable capital.I totally agree it's pure speculative.. the sad part is lots of people have been making a killing on it.. its definitely not my cup of tea but I bought a few at the right time and to be honest got lucky..

@Robert Biggerstaff, it’s a really interesting question and touches on a few key topics.1) You likely need to be active to start with and to build up capital but in order to scale you have to automate, delegate and systematize your active pursuits or take a more passive approach by investing in others deals2) Setting a pure financial goal is a good start but it can be even more powerful to state your goal in terms of what it will enable in your life I.e. what will happen when you hit $50k a month, will you then not be happy until you are at $100k per month.Good luck!

I have done it on two properties so far and now feel it is time to start BRRRRing some pure investment properties. 

I don't know anything about this part, so this is pure speculation.

I take it that this is a pure investment for you and not some sort of live-in, house hack?

Its pure cash flow and that's it..