Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.

Of course, we all have standards that are legal.

I am interested in pursuing the legal structure of creating a land trust that owns the investment property and the land trust is within a WY LLC.I have spoken to NCH, but I was wondering if any of you have recommendations of other companies that can help setup this structure for houses outside of WY.Thanks in advance**I am NOT looking for comments on why this is useless, unnecessary etc.

I looked into possibly obtaining loan and they required 1% of loan amount for a pre-approval letter and no fund of the 1% fee.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

This is not legal advice....but "practicing law" is different than representing yourself in your own affairs.

Just looking for advice on how to find the legality of it in my nearby cities.

I have to get a permit to do that even though its rural area with nothing but farms around it.And the septic rules keep tightening up there worse and worse where its rendering some lots that were previously approved for a one or two bedroom septic to where they are literally unbuildable and useless because they won't allow any septic at all.   

Is this legal? 

If you have no liquidity I highly doubt a lender will approve your loan request.