If no one within the group has experience buying real estate, I would suggest you each buy a property on your own and then have a discussion of forming a partnership in 2-3 years.If you already have experience within the group, I would suggest all the friends get together over coffee and brainstorm all your concerns.

Can I split the cost of the plumber and tank repair on both tenants, as they both clearly were using the wipes and it's very hard for me to believe they were NOT flushing them.

If you're looking to scale quickly with lower down payments, I completely agre that house hacking is the way to get started— it worked well for me.

I am not from Nashville so it is hard for me to gauge the area.

I, along with my partners, have formed an LLC and bought our first investment property here in Florida. 

I have been buying stocks, index funds, and Master Limited Partnerships (which I will get a Form K-1).

For example, does the rental property has to be in the same state as the LLC formed? 

For me, I acquired a portfolio of seven four-unit buildings all in the same neighborhood.

Thank you for the input, please guys I am not whole selling anything. just bringing buyers and help them with the deal, I am underwriting the deal making sure numbers work for them, advising potential problems, provide market inputs, giving advise if forming syndication, negotiating deals via subject to when needed so I am not acting as a regular real state agent who does not do any of this. 

You have 3 years form renting out to decide to sell and still pay no taxes.