If your debt is student loans at 6-8% interest your best bet is to pay them down/off as fast as possible as most investments will achieve a similar result but that is gross (before taxes) not net.  

If a legal issue arises with Property 1, only that property’s assets would be at risk, protecting the equity in Property 2 and any other properties you may own.Asset Isolation: Isolating each property in its own LLC helps protect your assets from creditors or lawsuits targeting a specific property, thereby providing a more robust legal shield.Financial Management and Bookkeeping:Regarding your concern about financial management and the practicality of handling multiple LLCs:Centralized Banking: Using a holding company’s business account and credit card can simplify your bookkeeping.

It’s a great market for long-term appreciation and growth, but it will be harder to achieve cash flow compared with how the Midland home is structured.

To properly renew a lease with a tenant, several tasks SHOULD be done:1) Evaluate the property to make sure tenant is taking care of it and you want them to stay.2) Do a market analysis of rental rates.3) Determine target rental increase amount4) We present all this to the tenant, as we assume they're looking at rental rates on Zillow, etc.5) We then ask the tenant what adjustment they think is fair and then negotiate rent amount and lease term (we always try to go for 2 years).6) New lease sent electronically to sign.All of this takes time, hence a Renewal Fee.

I also want to suggest other ways of getting the 1% rule in the South (which is still achievable), and set some expectations for this interesting market and economy that we all find ourselves in. 

@Alex U.W2 and REP status is almost impossible to achieve.

@Braeden Warg Distance targets different types of people.

.,  where I can see this for sure is with agents on BIG teams that are beginning their carrier they get cash flow ( IE they get paid I suspect from you weekly or monthly out of the retainer).... ya I can see this.and as you said your blue color FHA buyer with minimal cash savings is probably not your target.. but sophisticated number crunchers..

When investing OOS you need to know what you're trying to achieve through real estate and you need to source and develop a top tier core-4 team.

Additionally, a make sure that the comps are within the same neighborhood, without a major highway separating them from your property, as this could indicate significant differences in the neighborhoods.Check the active properties in your area and make sure that your target ARV is not higher than any other remodeled property listed as active.