What many investors do is that they will purchase a handful of REI props in one market and then move on to their next/different market to diversify their portfolio and for added asset protection. 

I don't know which nearby state you're considering (PA is probably the most attractive) but local municipalities will sometimes enforce extra red tape and/or protections for tenants beyond the state-norm.

Additionally, there typically are additional state protections (outside of the agreement) based on where the fund is located.

@Paulette Midgette I haven't looked at that statute in a while but I would check to see if the Home Improvement Consumer Protection Act ("HICPA") applies to this situation.

No active projects yet, but I’m gearing up to dive into multifamily properties, ideally 16+ units, with a focus on creative financing and NOI optimization.

She works part time because it's a good balance of her interests, and protection for the family.

Very conservative approach that protects the seller.There is a long thread that covers what I'm talking about atPace Morby Mentorshiphttps://www.biggerpockets.com/forums/79/topics/1001612-pace-...  

You have to protect your assets and your family.Yes to all over 18 years old.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

You do not need to have it under an LLC to take depreciation, the LLC's purpose is to protect your personal assets should you get sued.