We usually get a troop of speakers up here, now more than ever. 

Steven, did you see the announcement yesterday of the reduction in Army troop levels in the coming years and Fort Carson will be reduced by one brigade?

I don't think the army will close this base, I think it definitely has a future, but I think what worries me is that with my lack of experience (both in the area and with real estate in general) I'm not sure what kind of effect troop reductions will have on the local market.

If you're ever sued, a court can decide that you're not entitled to the limited liability that the LLC structure would ordinarily provide. 

In some locations if your tenants complain about something then you are automatically on the defense (more than ordinarily) and for some issues, like enforcing a lease, you loose because you didn't have the legal authority to lease that part of the building as a dwelling unit.

So for instance, the Pentagon Federal Credit Union was set up for employees of the Pentagon, but if you join the "Voices for Troops" organization (it'll cost you $15 the first year and you don't have to renew after that) they'll let you join PFCU and get their awesome Pentagon Promise Visa card: www.penfed.org/Penfed-Promise/You do have to be careful when planning out your cash flow, though.  

Or since you work with them, would you start giving them "exceptions" that you wouldn't ordinarily do?

We have a responsibility to disclose the true value of the home (as we see it) along with any other material facts that someone with our "expertise level" would ordinarily disclose.

@Ben Leybovich I respect your perspective and experience and therefore, will ordinarily, agree with you on this, but my personal belief in life is that 'Blanket generalizations are not always the rule'....these sub 30k properties are doing great in some other areas.

orDeterioration to state of disrepair – Amount paid to return the unit of property to its ordinarily efficient operating condition, if the unit of property has deteriorated to a state of disrepair and is no longer functional for its intended use...Step 3 - none of the 3 safe harbors apply (de minimis, small taxpayer and routine maintenance)Sorry, sounds like SOL to me.