@Joe Villeneuve @Theresa Harris, thanks a lot for taking the time and provide some info/ideas/suggestionsTo give you some color for these properties, there is a 15 years-plan that my wife and I are planning to have arround 5 to 7 properties in the same $$$ range (-+ $200K) that we can rent them around $1600-$1800I believe after 10 yrs, I am expecting to a better cash flow considering some loans will be paid in full, but maybe the next properties will have as you suggest 30 year-loan. 

I was curious to learn more and liked the idea of niche diversification outside of my current active real estate business.

But having a backup or two isn’t a bad idea, especially if deals start flowing faster than one person can handle.Good luck finding the right team!

If you partnered with someone other than your spouse then yes, LLC was a good idea, since you now have a partnership.

Here’s some advice to consider for your first home and cash flow strategy:Using your property as a short-term rental during the baseball season is a smart idea.

I think the idea of starting fresh financially, as soon as possible, would eliminate a lot of stress.

I was just pitched the idea of an LLC for each property last night. 

Unfortunately - my current lot for my primary is 1 acre and VERY sloped, and close to a water source (creek), so the county has not even allowed me to permit my downstairs finished basement without an extremely costly renovation to our septic (over $60,000, and that doesn't count demo'ing and replacing our driveway to get to the existing tank and leachfield), and even if I could permit it, it would essentially need to be a treehouse in the redwoods due to the slope (not a bad idea though, I would actually love a livable treehouse on this lot!

And maybe @David Krulac has some further ideas to offer ...

I’d be happy to connect and share ideas on building a solid plan, like assembling your CORE 4 (agent, lender, property manager, contractor) to help streamline your journey.