This led me for the most part to the same conclusions and validated my thoughts at least partially!

However, how would the numbers bear out to come to that conclusion?

I'm coming to the conclusion that its not a good investment.

I have come to the conclusion that for "little" people like me (by little I mean I wasn't born with much of an advantage), real estate was one of the possible avenues to true wealth and legacy building.

I'm very glad you arrived at the same conclusion already.

The hoa just redid the outsides of the units within 2 years, and the inside of this unit needs no work.Tenant currently in place, on a one year lease set to expire April 2015, paying $900 per month LL is currently paying for electric and Internet, approximately $65 and $33 per month respectively (per current owner)$367 for HOA (hoa includes exterior/grounds/pool/patios/cable/water/trash as well as flood and hurricane insurance I'm told by current owner that taxes are $606 annually, as investment property The owner says she is also paying $15 monthly for Renters insurance.So in short:45,000 asking price  Income -900 total monthly rental income Expenses -65 electric33 internet50.5 taxes367 hoa 15 renters insurance 530.5 total monthly expenses (not including mgt fee, vacancies, maintenance, etc) 10800 annual income6366 annual expense Conclusion/questions/my thoughts:1) As seen above, this deal fits neither the 50% rule, nor the 2% rule.

We've come to the conclusion that a FHA loan would be the most beneficial for financing seeing how we want to house hack and have very little capital to begin with.

That is my conclusion on replacement type after researching all options for the last few years.

Not everyone is wired the same; we spend a lot of time in my company learning and executing personality assessments and their conclusions. 

I looked into this a lot also and my final conclusion..... no LLC for me.