I've personally utilized private notes on three transactions and participated in another handful of negotiations with sellers on behalf of buyers in the past five years. 

@Ryan Raven most states don't care if you screw up the management of real estate you own personally.The government does have a problem with an unlicensed person/company screwing up the management of properties they do not own.

Personally, I'm waiting for the lawsuit by a seller against his own broker for refusing to vet a potential buyer and then show to a qualified buyer.

That is just what I am seeing personally, and I work with investors all over the country. 

Welcome to Bigger Pockets @Joshua KeimAs a fellow Memphis native, I’d love the opportunity to connect in person and discuss strategies with you!

Personally when buying rentals I tend to buy in neighborhoods that I feel like I wouldn't personally mind living in and when I look for tenants I try to look for people that not only pass my screening but also I personally don't dislike.  

On more than one occasion I’ve talked with a person or two that was offering real estate coaching and I found out very quickly that either it was not what they were advertising or they was not far enough along to be coaching anyone except maybe a complete newbie or maybe it wasn’t the strategy for me.Anyway, that’s my ramble for this morning.

I’m not a “people person” so they handle screening.

So now I have both my personal residence and a leased property as STRs.Even though I live 3 hours away from my leased STR property, I've built a team that assists with managing it, so I don't have to be there all the time.Here are some key things I've learned:Regulations: Research the specific STR regulations in the state and city where you're looking to buy.

If someone injures themselves and sues, they will be suing the LLC and not you personally.