We have an acoustic panel set in there for aesthetics and sound.

Extra set of eyes, second opinion and diversity of your own investments

I think asset prices will continue to grow, areas where millennials can buy affordable real estate will be where I'm setting my sights on.  

If it goes well, you'll learn a ton and will know what to do next.

Also, I have heard about the benefits of having an LLC set up to manage rental properties but not sure if this is advisable at my stage (e.g., not a lot of properties to manage).

For added liability protection, consider setting up an LLC for the rental, though this may have limited impact if the mortgage is in your name.This post does not create a CPA-Client relationship.

If you don’t have a shop, you can still point people to toys, but you’re not supposed to act like you own the shop or start setting prices for toys you don’t actually have.Here’s why some wholesalers avoid getting their toy shop license:1.

I don't trust them and it so much more reliable to take a few minutes and look at your real competition to set pricing. 

A quick call with a local attorney can set the record straight and help you navigate this without drama.

If you finance conventionally you don't have that limitation, but you can set your own goal.