I just attended a real estate conference in Bakersfield and decided I did not want to barrow an enormous amount of money to attend an advanced training. 

That's an enormous increase in a (relatively) short period of time, at least from the perspective of those of us who have most of our investing experience since 2000, during the glory days of low interest rates.  

I have since narrowed my sights onto what I think will be a great start for me.I look to purchase my first buy and hold in the next month or so and am more than excited to learn all I can along the way - the fact that it can provide an enormous amount of financial security for me and my family has helped in the way of motivation.

If someone is collecting $1,000 a month on a consistent basis without enormous expenses then I am buying the house next door and throwing a granite countertop in and taking that tenant away. 

To type that out would take an enormous amount of time due to length.My situation is more unusual.

I completely agree, I'm just saying the system that is most often used by guru's is to buy distressed properties, minimally rehab them, and then sell them at a guaranteed enormous profit.

Otherwise you're running an enormous risk of not only blowing this deal, but losing that client forever.

Any seller who is selling in an LLC shouldn't agree to the verbiage your attorney is pushing, it exposes them to enormous risk.

I'm not willing to risk having a few tenants run up an enormous electric bill at my expense.  

In my opinion if you're in Chicago, you would be making an enormous mistake to use a suburban lease...