Are there any potential drawbacks?

The draw back to these loans is that they are more paperwork heavy than the other "portfolio" types of loans....but if you have ever received a loan on your primary home, it's likely that you will go through the same type of paperwork here with conventional lending.

I heard good things about Quickbooks, but the drawback is that the software is not specifically designed for Real Estate Investment and we will have to set up each rental property as a customer in Quickbooks.

(Finding your niche is extremely important as a real estate agent.)If you have a large savings of cash that can sustain a few (to several) months of fluctuating revenue, then this might be a great time to relocate.Now, remaining in your current area has a drawback because of your desire to move, but I hope I've given you a couple of things to consider.I wish you all the best.

I am wondering what, if any drawback would be of buying the property in my LLC?

I personally prefer an older home that's been updated but I realize that's not for everybody and an older home often has it's own drawbacks.

Some have said as a draw back that listing agents may be opposed to sharing commission with someone who doesn't have the traditional license and is buying for themselves.  

God bless the inventors.Tip 6: If you're using cheap laminate, one drawback is that you're going to have a limited number of plank patterns per box to work with.

Each has a strength and drawback IMO. 

The drawbacks to renovation loans include much longer closing periods (45 days or more in today’s market) which make it harder to get offers accepted, and higher rates and fees.Hard money/Private money loans require no income documentation, and are made solely on the basis of equity/down payment.