My two cents: get a job and HUSTLE right out of school and create some income and save up some capital.

The challenge with S8 in this scenario is you always have a piano over your head and all a tenant has to do is call the code office to create an issue for you. 

He and I created an LLC for NC a few years ago when we were thinking of buying a rental property there.

@Dave Chengoue there are a lot of opportunities in the area, the main thing is to create your team to help you execute.You also have to evaluate your strategy.

I am a blue collar guy through and through so even though I'm now a realtor, I can never set my toolbelt down for very long before I'm needing to demo, build, and create once again.

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.: I am getting conflicting information from 2 entities that help create LLCsThe property I am buying is in Arkansas, but I want to open an LLC in Wyoming One entity that helps creates LLCs is telling me that the WY LLC can own a property in Arkansas.Another entity that helps creates LLCs is telling me that the WY LLC cannot own a property in Arkansas, and I will need to create another LLC in Arkansas and the WY LLC will own/manage the Arkansas LLC.Can anyone who has actually created a WY LLC and used it to purchase property elsewhere answer this question for me please?

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.

This creates a negative initial position.

This can create deprecation needed to offset these gains, and we don't need to qualify for real estate professional to take advantage of it in this case here.