Dodd-Frank definitions; anyone who executes or makes......any maker of an obligation, they also refer to any lender in the same breath, that gives us a distinction between a lender and a maker.

Unless there are serious and distinct advantages, I would lean toward setting up in my home state to keep fees down.

Of course you could be a RE professional (as classified by the IRS) allowing unlimited write-offs against both passive and earned income, but less people who are investors qualify for this distinction. did a lot of good business in the Go Zone, but have also fallen victim to uncontrollable circumstances, such as sheister builders and so called lenders.Congrats on some of your successes, that is comendable!

The magazine had positive comments about Pittsburgh: "Currently undergoing a renaissance, this hidden gem has distinctive neighborhoods, tree-lined streets, glittering skyscrapers, upscale shops and a diversified economy."

Suttle but very important distinction.

I disagree with this first sentence but agree with the rest of Judah's post.There are three distinct  types of knowledge you need1) strategies2) how to evaluate a deal3) market knowledgeMany people who get stuck have a LOT of knowledge, but not enough in one of these areas to move forward.

@Matt Fisher A self directed IRA or 401k may invest in real estate in many ways, so long as the transaction is completed at arm's length.Clients of ours have held rental properties, flipped properties, engaged in joint ventures with other investors to hold or develop property, invested in tax liens, and operated as private lenders to other investors.There is a distinction, however, between passive income such as interest on a note or tax certificate, or rents from real property, and "engaging in a trade or business" such as being a wholesaler, developer or re-developer (flipper) of property.  

A corporation is a business entity that carries its own legal status, separate and distinct from its owners.

Two distinct closes, two closing fees generated from the attorney.

Also, having someone local to manage affairs seems like it would be a selling point in general.My goal is to retain my day-job and try to build this property management/rental business on the side, with a distinct focus on the community that I live in.