But we are setting things up legally for her to take all that she needs in the event of something happening such as if I die or something.

The goal here is to reduce liability.Consult an Attorney for Liability Options: An attorney could advise on setting up an umbrella insurance policy to add an extra layer of liability protection.

I don’t want an impulsive tenant to pay a visit to my house if they are upset about something.Unfortunately, since setting up the LLC, I found that a few weeks later I was easily able to tie my name to ownership.

I am 20 years old looking to grow and learn the real estate investing space with a goal set to make my first deal.

I'm pretty set on where I live, been here 12 years and tired of paying rent.. but purchasing even a condo is 600k+ and multi-family in north brooklyn is easily 1mil.

Even a typical water heat replacement would set you back signficantly.There's plenty to the puzzle that i am unaware of but with what you've outlined here i would consider passing on the property.you know you need managementyou know you need to remove at least one tenantyou know cashflow is meager after considering management.i personally wouldn't recommend a client take on the risk for such a paltry pay out out of state.Even when considering long term appreciation the average amount of headache one assumes with a property will bog you down before the long term play pays off.

Starting with the duplex could set you up with cash flow and real estate know-how to take on bigger projects down the line.

What I’ve found out on my own is that your net operating income includes the portion of money you set aside for vacancies, maintenance, and cap ex.

There are many opinions but there's only one set of facts. 

They charge $1500, get you into the door, using you to find a deal, setting up partnership to make you carry 100% debt and all the risk, while ripoff 80% ownership (include the 10% for sponsorship to get loan)You definitely can get some useful information from their event but do deal with them?