After doing some research, we discovered that South Dakota has a very beneficial option for those that want to "domicile"there.

I liquidated a majority of my stock market/mutual fund holdings slowly since Aug (I think stock market is near a correction as well) and have picked up 5 properties in Central WI..  3 duplex, 2 SFR..  

You can do anything from traditional mutual funds and stocks to buying real estate and businesses with your money.

Me personally i only buy Subject To's in a trust with the beneficial interest being owned by LLC's.

Also, what type of networking groups did you find to be the most beneficial to find investor relationships?

Also I get the ability to diversify geographically, and with multiple syndicators to hedge my bets.NPN sounds like potentially outstanding returns but yeah, I would have to partner with someone and not sure I am up for that.Performing notes - I will probably add some of these as well to see how they perform and if I like them.I already max a SEP-IRA with a bunch of vanguard mutual funds (all equities no bonds).

I'm not an attorney but my understanding is yes, you can definitely do that, and I believe things like that happen every day.While I can see some possibilities for why someone would want to set things up that way, I do have the instinctual thought that it might be over complicating things.Technically the second LLC is another layer of asset protection, and maybe you have a very specific entity structure setup for taxes which would make it beneficial to do it that way (an LLC inside an LLC), but it's worth asking the question of whether these is much difference, or much more protection, than just having you (presumably a Mass. resident) be the member of the RI partnership LLC straight-out rather than having your MA LLC be the member.Also, depending on what else you have going on in your MA LLC it may be a disadvantage to have it be a member of the RI LLC from an asset protection perspective - if someone were to be able to pierce the veil of the RI LLC then everything in your MA LLC would be at risk.If you do go with the MA LLC as a member of the RI LLC, when you go to sell the property you'll have non-resident withholding - but you'd have that if you personally were the member of the RI LLC as well.You'll also need to be careful how you sign anything relating to the RI LLC - you'd have to be careful not to sign as member of the RI LLC but as member of your MA LLC, member of the RI LLC.

Although I've not met Chris Clothier personally, we have some mutual friends, and would someday enjoy that, and enjoy seeing their operation.  

You need to know if the heloc is interest only as well (many are).HELOC is great to have, but you're right it's more beneficial for liquidity needs rather than long term debt service. those mortgage terms sound good!

A balloon mortgage that does not fully amortize over the term of the note, leaving a balance due at maturity, so placing those extra investments (7,000 extra payment) in a better place would be more beneficial for you.