In Columbia, finding a small multi-family property that makes sense numbers-wise can be difficult, but not impossible (low supply).

Quote from @James Wise: Quote from @Bernard Kelly: Hi BP, I'm looking at a few off-Market deals in Cleveland OH, this will be a new market for me.

If you are trying to save money this is penny wise but pound foolish.

Entity structure wise, I'm getting conflicting opinions from lawyers/tax advisors on which scenario gives me the best separation between properties and asset protection from rental activities:1.

But I think he meant you may have been being "penny wise and pound foolish".  

Quote from @James Wise: Quote from @Dustin Tucker: 1st I'm not an attorney, so I can't give advice, but if I was you, I would form my LLC in Nevada or Wyoming, I would want to form my LLC in a state where there is not tax on the LLC.

To navigate these complexities and ensure you’re optimizing your tax strategy, it would be wise to consult a tax professional who specializes in international taxation and U.S. real estate.

I think if newer investors want to learn the ropes of Property Management it would be wise to try and self manage their first few units. 

I think it would be wise to consider starting a new non-broker MD business and keep it separate from your FL Broker Business.Make it clear that you're not licensed in MD and cite the exception for property management in all documents.Get County specific MD lease agreements and property management agreements.Find an experienced MD attorney if you need any additional help

If you are purely doing it for investment purposes, it might be wise to consider not living in the unit so you don't need to divide everything up.