Sounds like he will be the "GP" and you as parents will be the "LP".

What I have learned is that it's nerve wracking to invest out of state, but sometimes investing out of state is a great idea since it could be the most bang for your buck.

I want to be the best agent I can be for you all, so I would love to hear your perspective and view on y'alls experience with being with an agent!

I have a suspicion this year will be the same.

"Do I need an LLC" may be the #1 asked question on this forum.Like Cole mentioned, it's about risks tolerance and how much headache you want, kind of.Do you need one?

I do think MT might see better activity, but also more owner involvement and the added intricasies of furnishings, etc, so if you're willing that might be the better route.

I’m currently with a group that will be building homes in specific markets, and it would be really helpful to have a tool that can generate data and reports in Excel spreadsheets for easy analysis.I’ve heard of CloudCMA, but I wanted to get opinions on whether this would be the best fit for our needs or if there are other programs that might be better suited to the homebuilding industry.Any suggestions or comments are greatly appreciated!

Keeping a record will be the most important.Not sure how helpful all that was and I apologize if I've missed read the question again!

This is a good place to start.1) Education: be the most knowledgeable agent in your area and start to host meet ups or something that can establish credibility.  2) I would find a low transaction/fee-based brokerage like EXP or a brokerage that does not charge a heavy annual fee. 

However, if your goal is to scale into a larger property, saving for a down payment on your next investment might be the better move.