From a tax perspective, an LLC is a disregarded entity (meaning it is reported on your personal tax return) until you elect for the LLC to be treated otherwise.

I'd love to hear any perspectives on how the strategy works in the area and would appreciate any guidance on good neighborhoods / towns / areas to take a look at or ones to be cautious of.

There are books: Best Ever Real Estate Syndication Book is pretty thorough and Hands off Investor is great for helping frame syndications from the LP perspective.  

From a lender's perspective, that type of loan would be so incredibly complex that it would have to really be worth the lender's while to even consider doing it.

@Gabriela Angel,First-- you need to start fresh with a lease that you provide them, stating YOUR terms and YOUR Expectations of them.    

This is the debt renewal tidal wave everyone is talking about.From a personal perspective, this period has been particularly taxing.

Good, now you get a fresh cup.

From a quality of life perspective you can't beat living in Saratoga.

Versus I noticed in Texas a slow down because an older home is competing against new construction.From a tax perspective, buying new construction is becoming interesting.

Sounds like a good plan - from a financing perspective, its a good idea to start researching now - for better or for worse, a lot of lenders view 1st time investors without a primary residence with a owner-occupied mortgage as a flag and might limit some options