I really wish our education would adopt the mindset of teaching personal finance because although our schools are setting kids up to be doctors, engineers, lawyers, etc, they are also setting them up for an uphill battle at a large disadvantage by limiting their financial  intelligence which allows them to make the poor decisions above. 

One disadvantage of setting up an LLC online through the state is you do not get an OA, which is a critical component of the entity.  

The advantages far out-weigh the disadvantages.

Not everyone agrees with him, but I fully support his approach of listing high quality homes on section 8, and treating them like quality tenants, rather than scum only because of a disadvantaged financial situation.

The funny thing is..I was coming to this forum to bring up this topic.What are the disadvantages of becoming a broker?

What are the advantages and disadvantages of doing so and investing overseas (I'm currently in Singapore)?

There are two basic types of notes  performing and npn  then there are different class's of notes owner occ and commercial... each has their advantages and disadvantages  and of course their risk and reward component .Really depends on what you want to do.Much like all the talk on BP about turn key rental houses and do it your self... performing notes brokered by your local HML there in the bay area would be more turn key... 

Do you think such a long-term tenant is an advantage or disadvantage?

The disadvantage is less return on your cash.

So 4 houses in 4 different cities- FL, GA, IND and STL.Id love to hear any suggestions or advantadges or disadvantages of having them in separate LLC's in each state or under one?