Here are some highlights of my real estate adventures:My Start: My parents dabbled in rental properties and renovations while I was growing up so I learned the basics from watching them.  

I hope it highlights in blue :)

You'll know you've done it right if their name is highlighted in blue.

Hi @Douglass Belt  (not sure why this mention isn't becoming highlighted)Our two rentals (each with 2 apartments) are on the east side Atwood neighborhood (by the Barrymore) and on the north side, by Warner Park. 

Ultimately, like @Mark Ainley said, work with your attorney/account to come to your own conclusion but I can highlight a few points which may be of help. - The main and obvious pro is Limited Liability (its in the name) - if you get sued, the suer only has access to those assets contained in the LLC (assuming everything is set up correctly and air tight)- LLCs can be tax efficient when comparing to a corporation and setting up one individually is relatively easy as the income flows through, but with friends (like in your case) you would have to explore a multimember LLC which requires its own business return (more paperwork)- Acquiring a conventional loan could be difficult.

I mentioned meet-ups cause they are a very important part of the learning process and will help you hone your focus and highlight areas you never thought of. 

This way you know what is important to them and can highlight ways that benefit them in the ways they are seeking. 

But in cases like those that have been recently highlighted here on BP, someone with charm and credibility can keep a scam going for a very long time by charming over their clients.  

You are correct in that the second one highlights statistically higher risk areas.

I want to take time to highlight two of the resources that were shared.