Sad mainly because i don't have funds to take advantage in regards to the stereotype of it being bad I personally think as long there's people involved there will always be bad people simple regardless where you are, I see myself mitigating this problem by having a good system in place from screening for tenants and picking the right property managers. 

Now those are HUGE stereotypes so there are exceptions but something to think about.

Long term perpetual monthly income over a one time pay day.

The IRS will not require that you maintain this election in perpetuity.  

Will this not perpetuate the foreclosure crisis?

You got offended at illegals being stereotyped then turned around and stereotype gangsters and pit bulls as somehow worse.

I feel dumb for perpetuating this thread, as many have pointed out there has been great advise offered, some of it actual ways to better your position, and some was adjusting your attitude to better your position; really seems you want to hear neither.My brother is the same, my dad and I constantly worked our contacts to get him great job and business opportunities, but the motivation to start or continue these were never there, but the want for nice things still was.

Of course, any LLC can be pierced if the members do not follow proper formalities or use the entity as a vehicle to perpetuate a fraud.  

..allowing for a perpetual source of revenue from the property?

hi folks,am getting out of daytrading and gonna be buying and rehabbing homes to rent perpetually (not flip)....