My personal opinion, I would be cautious of Dayton The pro formas can look really good on a spreadsheet but reality can sync in with slow job growth. 

Do not be seduced by paper profits from glossy pro forma projections ... in the lower end neighborhoods, these projections look great on paper but are works of pure fiction as you will never see them in reality as an out of state owner.

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

If you and your brother continue buying properties together, it may make sense to form a parent holding company (mmllc) and each acquisition thereafter will have its own llc which would be solely owned by the mmllc parent holding company.

Looking for a General ESA tenant agreement for MA that I can tweak and have my attorney look at before signing.

I currently have 8 units, soon to be 10, and the expenses have always been more than in the pro-forma. 

I made an extensive pro forma and the numbers work out really well, it's an incredible opportunity.

The pro forma rent after everything is renovated top notch is approx 15,000-15,500, expenses are about 2500/month.

For those who are investing in multi-family transactions of 10+ units, how important is it to know how to create a pro forma in excel?