Good Morning BiggerPockets, I am thrilled to write down my first post as I have finally decided to take my landlord business more serious.My questions is one that would make sense and I would be able to answer myself, but still decided to ask people with expertise.My property lease agreement is up for renewal and my tenants have been great within the last year of tenancy (yeeei) notified me that they want to keep renting the property.

I was so thrilled with my experience and my ROI I started referring my friends and colleagues, and then that went so well I partnered with my turnkey provider and I help other investors build portfolios.  

I'm looking into acquiring my first multi-family and at the moment, I am leaning towards a preference for vacant units so that I can make needed updates and set rents at market versus having to process long-term tenants who may not be thrilled to see rents jacked up by $100/month.A lot easier to get someone in expecting $700/month versus telling a tenant who has rented for years at that location that they're going from $580 to $650.

That's a solid win, and it's just the beginning of a thrilling journey in real estate.Now, when it comes to setting up an LLC for your real estate activities, it's a smart play for several reasons.

I've got a couple that are cash flowing here, but while the passive is cool, I personally enjoy the thrill of flipping and development.

Or is it just me but the majority of the population gets really thrilled when they see a computer-printed "handwritten" letter?

You'd sell it for $150K, be thrilled that you did, and then brag to all your friends about your real estate skills.If you're going to whine every time you get outbid by someone you feel is overpaying, you probably want to get out of real estate investing -- it's not for you.

Technically, Landlord owns the oil and prefers to not write off this asset.Presumably, tenants will be thrilled with this conversion. 

As a Chicago investor, I am a bit thrilled people are scared of the city, just means fewer competing offers if I find a good deal (but they are hard to come by these days) ;) 

Her uncle 10 acres away would be either thrilled, more likely, or indifferent at worst.