Years ago, contractors are normally incorporated, but nowadays, LLC's had gain popularity. 

This is a value add play, which incorporates a bit of a flip strategy, but still allows you to have income while you implement your plan.

Obviously I've incorporated the remaining balance (which I still need to verify) in the asking price along with my spread.

The idea is similar to modern day pioneers looking for an area to build a new home in a better environment than we are currently in.My question: Does anyone have any suggestions as to how we could incorporate this lifestyle with building a real estate portfolio? 

We have plenty of regulars to pay the bills, and my wife is getting a graphic design degree and will be transitioning to freelance employment in that field. 

Incorporate your daughter into the investment/management process which is going to help her. 

If you are in an incorporated city, there is likely also a city tax.

Have an attorney draft up the incorporation papers and partnership agreement,  Talk to your CPA about tax issues and best structure for your business plan, and have attorney transfer title of properties to LLC and put both investment properties in the LLC.

.- Logo designed and color palette chosen for consistency and professional look- Facebook and Instagram biz pages put in place- I am a graphics designer and created templates for coming soon, new listing, etc online ads using chosen color scheme- Website created (no IDX due to no money :-) )- Door knocking on 100 doors and left flyers I designed.

The taxpayer’s business (“Taxpayer Incorporated”) paid Roth Inc for services.