Also look at the condition of things that will need to be replace and what life expectancy is left on the equipment.  

I just wanted to be equipped with some insight going into that meeting so I have an idea of how we want this to move forward.Just to clarify - with you said (which makes a ton of sense),, we would need a parent LLC in each Missouri, and Oklahoma since we will be doing business in both states.

If I spend money on courses or books or equipment (i.e. laptop), am I able to deduct those expenses from my taxes if I do NOT have an LLC?

I feel fully equipped to do this real estate stuff, but working without capital has been a bit challenging because of the limitations, it presents.Loans, LOC's sounds good as a resolve, but with a new start-up, I have yet to find the right fit for a small business.

What's gonna happen if it's like the last one where you're employer needs a business loan to keep his doors open for equipment and can't get funding?

Here is a list: Asset Accounts:Asset Accounts:Property 1 BuildingProperty 1 LandProperty 2 BuildingProperty 2 LandBusiness Checking AccountSecurity Deposit Escrow AcctReserve Acct for CAPEXDeferred Maintenance AcctAccumulated Depreciation - Property 1Accumulated Depreciation - Property 2Equipment & MachineryMaintenance ToolsAppliances, Extra partsOffice Equipment & FurnishingsComputers, Printers, ElectronicsFurnitureMisc Office Supplies/InventoryOther AssetsLiability Accounts:Property 1 MortgageProperty 2 MortgagePrivate LenderSecurity Deposit Escrow AcctShort Term LoansBusiness Credit Card 1Business Credit Card 2Equity Accounts:Owner Contributions/DrawsRetained EarningsIncome Accounts:Rental IncomePet FeesStorage FeesInterest IncomeSecurity Deposit ForfeituresOther IncomeExpense Accounts:AdvertisingAutomobile/TravelRepairs/MaintenanceCommissionsProperty Tax/Insurance Escrow ExpenseMisc FeesMortgage Interest PaidOther Interest PaidWater & Sewer UtilityTaxes Other than property taxElectric UtilityGas UtilityTelephoneWagesTravel/EntertainmentDepreciation Expense - Property 1Depreciation Expense - Property 2Other ExpensesFood/RestaurantsSupplies ExpenseDe Minimus Items for RentalsTrash Utility ExpenseStorage ExpenseProperty Acquisition Costsbtw, I have never used nor do I want to use Quickbooks.... :-) Please don't recommend I go to an accountant, I have a tax advisor and thats all I need. 

This states the home has been approved and available to be a rental.And some of these must be applied for every time a tenant moves.So check your state laws.There are Landlord Tenant Laws, Building Codes, and laws that are not laws at all but based on a Judge’s opinion of whether or not a tenant did wrong or not.For instance, normal wear and tear.Judges have various opinions on what they deem normal wear and tear.This is an Industry of thinking skills.This is an industry of holding your temper and implementing your lease agreement no matter what.You need to think like a Judge.You need to think reasonably.You need to be a good listener.You need to be in control.Once you buy a house you need to know how to keep that house and how to keep your tenants long term.You need to know how to be all things in order to keep your tenants happy, yet make them know the rules of landlording and how to be good tenants.I always say that one is only as good as the tools they have.You could be the greatest landlord in the world in mind and action, but if you don’t have the equipment, or the education, or the money to invest in the proper tools to make you successful, then you will never make it in this business.It takes my breath away to read the stuff on here by new investors.And I understand that how can they know what they do not know?

The issue is that he has playground equipment (swing set, monkey bars, etc).

AT&T did allow financing of the equipment though.

I'm not sure what the requirements are before it triggers State aid but we barely had to do anything beyond report it and the DEP swooped in and ran the clean-up effort....including bringing in Clean Harbors and heavy equipment to remove and replace the contaminated soil.