Should we start LLC? 

Since you're looking to expand into Florida and other states, I'd recommend starting by narrowing down your focus:Market Research – Florida has great opportunities, but each state and city has different laws, taxes, and demand drivers.

House hacking is a smart way to get started, and Milwaukee has some great multi-family opportunities if you buy right.

You begin depreciating $200k over 27.5 years, starting from 2023.You do a major $50k rehab in 2030.

Louisville is fantastic for cash flow and is a safe place to start since we don't typically get caught up in the roller coaster effect of steep appreciation followed by sudden pull backs when the market isn't red hot.  

Quote from @LaShon Evans: Looking to get started this spring with the purchase of my first SFH for a LTR situation. 

It's good that you have two ideas to start with.

I used the proceeds to start my business.

If someone has a deal that they are up over $1m (including the small cash flow) and I was starting out, I would be all over the financials and the plan. 

Lesson learned: slow follow-ups and poor lead management can be expensive.I knew I had to change how I handled leads, so I started automating follow-ups—and the difference was huge.