I still hire a videographer though, I just use this website to complement the content I create for the home I have.AI in general has been on a crazy uprise. 

Kyle  My father-in-law did this by creating a portfolio that is primarily debt-free single-family rentals in the city he lives in.

The 50% rule - in my opinion- is used solely as a quick back of napkin calculation to determine if it is worthwhile to do more investigating of a property. 

Additionally, forming a new LLC may require obtaining a new EIN and business bank account.This post does not create a CPA-Client relationship.

Or maybe a favorite way to stay updated on local rules?

You create a single-purpose entity to own the property and raise funds to buy it.

That does not match what I believe the rules state. 

Asking in the correct forum will get a better response.Read the RULES!

.:  Are you talking about creating a first 50% of the note and a second for 50% of the Note and sell the first one? 

There are many here in my local area and your area is likely to have the same type of meetings.Most of the deals that I fund are by meeting investors in person at these groups and creating strong relationships.