Hey Ian,When it comes to real estate you wont actually need to form an LLC, but it is highly recommended.

Pros: Easy to find tenantsPros:  Normally can purchase property at a good discount because of the neighborhoodCons:  Nightmare tenants who will tear your property up and literally destroy it.Cons:  Slow slow monthly payments.Cons:  Hard to sell property , who wants to buy a property in a crime area.Cons:  Dealing with the governmentCons:  Very Hard inspection requirementsCons:  Maintenance of property requirements

So one needs to think through should I ONLY buy for cash flow.. and Maybe I should get ahead of regentrification so that 5 to 7 years down the line my property went up in value and if I want to exit I wont give all the cash flow back

We've been doing 10-15 years but again they don't last long with renters destroying them

And your business life in general.Also, I'm not an attorney, but I'm sure that they will tell you that commingling would weaken if not destroy your asset protection.There're clean ways to charge things on personal cards and then have your business pay the credit card bill, as long as the card is used 100% for business.

Otherwise they wont deal and will hold out for a sucker, and eventually will come back around.

As a guy with an engineering dgree who's flow helicopters for the last 7 years I'm not sure I'll have the resume but that wont stop me from looking into it and applying. 

If you make a mistake it wont stress you out to the point it ruins your relationships and effects those around because your losses will be acceptable.   

Just because I am open with you guys, and tell you things such as : "this prospective tenant looks mental and this tenants kids will destroy my house..."

For example,I do currently have a vacancy as one of the rooms was destroyed by the last tenant down to the subfloor but I'm getting it fixed on my own in my spare time for less than 1 month's surplus.