I’m also currently looking to upgrade to a software that allows me to transfer friends from PM to owner and will help me generate form 1099at the end of the year.

If you're ok with roommates and generating some leases, ground rules, and interviewing folks before they move in, you really can't go wrong with house hacking.

You’re right, though, that you’re unlikely to generate much cash flow, if at all, if you invest in your home state.One option would be to look out of state.

Long-term rentals offer diversification, learning experience, and lower returns but may generate lower returns.

You have a kick butt deal, if you generate ha;f the cash flow you’re planning on you’ll be ok.

Is it by filing 1065 and generating K1's or is there more to it?

For LP the question still remains: you want to lose 200k now or lose 500k later, all for to just generate 200 bucks cash flow.I'm an adult, and am responsible for my decisions, including the contract I sign as an LP with the GP.

That leasing agent can provide very good insight into what is moving in the market and how to generate more income. 

While I've been able to get out of my W2 after acquiring 30 properties, I've learned that you still need to generate some sort of active income unless most of your doors are completely debt free.

The BIGGEST mistake wholesalers make is diving into lead generation before you have anything set up to convert those leads when, and if, you DO find them.What is the point of trying to reach out to prospects when you have no system set up to convert these prospects into leads?