The best areas to consider include East Point, West End, Kirkwood, Decatur (outside city limits), and Marietta, each offering a balance of affordability, appreciation, and rental demand.

How can a PMC afford to do more than the bare minimum, when owners only want to pay the bare minimum?

And if they couldn't afford it, they should have sold, moved to what they could afford. 

In addition to Wishing Well Hills, Decatur, Brookwood, and Smyrna/Marietta, you might also look into Powder Springs, Austell, and parts of Douglasville, as they offer more affordable options with solid rental markets.

They will be able to guide you through setting up financing, creating an investment plan, getting subs set up, and creating an execution plan.A good investor focused Realtor should be able to guide you on what markets you can afford, help you focus on your personal risk tolerance, and find a property that fits your skill set and financial goals.The more educated you are as an investor the better, but the right Realtor is going to unlock a wealth of information that is going to super charge your knowledge of investing, and help expediate your plan. 

We specialize in affordable housing in Indiana.

Reduced energy costs also leave more room in household budgets, making housing—whether rented or owned—more affordable for tenants and buyers.

Denton County offers opportunities in suburban and college town markets, while Grayson County provides affordable entry points with cash-flow potential.

Having the knowledge of what transmutes separate property to community property may be a very important lesson for you, as well as what liability protection can be afforded by retaining assets as separate property, if any.As to the LLC, there are a variety of opinions, but you are correct that generally any LLC "doing business" in California should register with the California Secretary of State and pay the minimum $800 annual fee. 

@Yael DoronIf you're working with a $150,000 budget and aiming for high ROI through rental income, consider nearby areas around Phoenix that still offer affordability and growth potential.