My wife and I plan to purchase a few properties ourselves, but with the lead generation strategies I’ll be implementing, I expect to come across more deals than we can personally handle.That’s where you come in!

@Isaac Terry Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

How much do you expect to invest?  

I live in California.I also wanted to know if there was anything you wish you had known before setting up an LLC/IRA and why you chose to set one up and has having one met your expectations?

That likely means that they are not good with money management which you are likely expecting from him.To answer your question, if you are doing long-term rentals, the LLC taxed as a partnership is likely the go to route.Best of luck.  

And what discount should I expect?

It is going to cost more than you expect, and you'll have that "Oh, crap!

I'm sure it's a little more efficient in larger cities, but my market requires up to 60 days to get approval.Lower your expectations with Section 8 tenants.

I have been to the DFW area a few times but not specifically to these northern suburbs, but I know that DFW is one of the fastest growing metro areas in the country with a robust economy, and I expect it to keep growing.

You can expect turnover costs, losses due to vacancies, and other expenses.