One day, my wife came home from a tough meeting with her manager, tears in her eyes, and said she couldn't take it anymore - she hated her job and didn't want to work anymore.

I wanted to have the same title company for the entire process and was fortunate to find ETS as they would know from the beginning everything about the exchange and the parties involved and were licensed in both states where the sale and purchase transactions occurred.My initial conversations with Dave still left me with questions but only those that I did not know what to ask having not gotten to the different phases of this entire process.

Lindsey, you’re right there is a lot involved with house hacking out of state and I’ll be circling back to that particular method in the near future.

Ask an accounting advisor if theirs any benefits to one or the other, but I haven't found anything significant beyond if theres a lawsuit, the LLC's state laws can be involved. 

If ever you need a second set of eyes on an investment let me know, it would be my honor to help a US Marine. 

Get city inspectors involved in any of that and you can add 25% to the cost.

This is not anything you want to get involved with at this point.

If I had to choose, I would lean towards option 1, I like the idea of having a dedicated person that at least knows my name and is familiar with my properties and can help "keep an eye on them".

@Shyam Subramanyan if you are not a “real estate professional” in the eyes of the IRS, you cannot use added depreciation to offset your W-2 income.

If you are actively involved in running the business, originating loans, and spending significant time managing it, you may be considered materially participating, which subjects you to SE tax.