If it's a multi-member LLC, on the other hand, the accounting costs to operate the LLC might constitute a material sum depending on your operating margins.What is the cost of a) establishing and b) maintaining (annually) an LLC in your state?

Originally posted by @Scott Wolf: Welcome @Dee Culverson!

It also has to include the individual's risk tolerance level.Now for the real estate that i would pursue,  an investment that will annually provide a steady cash flow of 10% return or better, a property that will appreciate along the way and one that has the least amount of headaches.

Hey @Alan Bosca,In California, HOA's are required to mail out the fine policy for the HOA as part of the Annual Mailer (with the budget). 

Expect to foot 2500-3500 a year for annual membership, insurance training etc. 

Annual tax savings on my SFR are roughly $7K.

Insurance at higher levels is really cheap; I think it costs me an extra 30 bucks or so annually per property to add an additional 1 million worth of liability on each property, so if you have anything worth taking you can get extra insurance fairly cheap. 

Around $150 to set up and once a year you file an annual report which is a simple form, to the state of Illinois (will tack on another $75).

You can get a <250K personal LOC with no fee (30$ annual) for about 7-8% APR.Try local credit unions.

In my experience the inspectors were fairly "petty" when it came time for the Section 8 annual inspection / rental increases.