More specifically, I got invited to an opportunity to develop a multifamily property in Florida.

LLC are for asset protection — there a numerous discussion threads on this topic in BP and BP has its own blog articles on it.

There are still great deals out there where you can make great returns with numerous strategies: flip; B.R.R.R.R.; buy and hold; buy and sell turnkey; etc. 

That way one account can process payments from numerous rentals .thoughts?

I've worked on numerous homes in Coronado, La Jolla, Rancho Santa Fe, and it's very common for high end homes to have a guest house/pool house/casita/granny flat etc. etc. so an ADU is basically just a guest house w/ a full kitchen. 

If you wanted to start now I'd convince your parents/ guardians to set up a custodial account with Schwab or another brokerage you can research and invest in real estate stocks such as Invitation Homes, Lennar, American homes for rent, Zillow etc. 

After reading numerous books by other investors it seems like one of the common themes is finding a handyman/contractor that does good work, reliably shows up, and completes jobs on time and on budget.

The Asbury Park Press also tried to reach Castrovinci by phone and received the same message that his voice mailbox was not set up.The Dumonts had to cancel “numerous rental contracts,’’ for April, May and June, suffering irreparable harm to their reputation as landlords in the small, seaside town as a result of Castrovinci’s refusal to leave, the lawsuit said.

My end goal is to have great passive income through numerous properties.

Hi BP,Was chatting with a friend, and was wondering what key financial metrics (and what minimum numerical scores/values would you accept) would you use for evaluating whether tenants would be good renters for your property?