There are a lot of individuals out there who are in need of an Independent Private Investor.

You set up the "master" LLC in your preferred state and then put individual, local LLCs within the series LLC - like files in a cabinet - in the state that you own the property. 

😅The TCPA which governs this activity states that the SMS must be sent individually to be compliant.Telephone Consumer Protection Act 47 U.S.C. § 227 SEC. 227. [47 U.S.C. 227] RESTRICTIONS ON THE USE OF TELEPHONE EQUIPMENT(A) to make any call (other than a call made for emergency purposes or made with the prior express consent of the called party) using any automatic telephone dialing system or an artificial or prerecorded voice—

This is all to show to a Court and a savvy plaintiff attorney (when you get sued) that your business activities follow corporate formalities and they are separate from you as an individual. 

We would like any tips, tricks, do's and don'ts for those that also rental out individual rooms in houses.

Complete a rental verification, but it should not be from any family member or an individual, request there last apartment, or property management company as a rental verification.

Find a property, develop it, live in it, rent it out and then repeat.Another approach, which I believe may have already been mentioned is to find a mixed use property in lieu of just focusing on a 3plexAnother approach is to find something near one of the universities and run your rental analysis as if you are renting by the room at dorm like prices in lieu of renting each unit individually. 

It's got a huge number of wealthy individuals and businesses there and I don't see that changing.

You could be looking at 8-12 subs that you will need to individually contract and negotitate with. 

Now, I believe the right legal CYA move is to have one LLC for each individual property, but personally, I don't want to keep up with the bookkeeping on that!