I'm basically learning this stuff myself, so I'd hate to give out bad advice, but this is what I've been told by my attorneys so far.BTW, I went with a "manager-managed" LLC, vice "member-managed", for privacy reasons, not because it enhanced asset protection (unless you want to count the added privacy as another layer of asset protection itself).

Lawyers aren't accountants, and vice-versa (with some exceptions from those individuals that enjoy going to school a lot) so don't skimp, get it right the first time and get the advice of professionals.

Remember, what is good for legal is not always good for tax and vice versa. 

Just wanted some feedback and thoughts on the deal.Would it be wise to execute the 6-unit deal first then purchase a multi-family with an FHA or vice-versa?

Be careful when exiting the deal as an example  because your Roth could not sell its share to your traditional or vice Versa.

You also should not be doing flips in an entity that holds your rentals and vice versa as they often should elect different tax regimes.

I am assuming rental prices are generally correlated to home prices regardless of the region...not necessarily in exact dollar terms but at least directionally (home prices go up, rents go up; and vice versa).

@Manuel Lam , The subleased income will be the rental income, but there are ways actually you can just lump this together with the operation of the business if that gives you better tax advantages. meaning the income can absorb the loss of your consulting business or vice-versa. 

Being a commuter myself, and knowing a considerable number of commuters first-hand, I'd definitely say many people are comfortable commuting to the Phoenix area from the outer cities, and vice-versa in some cases.

You need to have a good trust relationship with your investors and vice versa.