@Jonathan JaffeCreating an LLC does not in itself mean that you have a business.The structure if personal in nature and you would not be eligible to claim the expenses on your return.Furthermore, since you don't personally own the asset, you lose out on section 121 exclusion which requires you to live and OWN the property for 2 out of the last 5 years.

I have not used zillow rental manager but I hear good things about it.One other thing to consider is that you are currently entitled to section 121 exclusion if you owned and lived in the home for 2 out of the last 5 years. $70,000 of excludable gain is approximately $10,000 tax savings if your capital gains tax rate is 15%Additional savings are made if you live in a high tax state.Another thing to consider is a 2-3 year lease is great as you don't have to worry about finding a new tenant for a while.

I'm in two masterminds (one for my operating company and one exclusive to real estate operator/entrepreneurs).

That and newspaper ads was where people learned about properties for sale.These days, people are flipping through Zillow while sitting at the toilet. 

I used to work the Patterson Park area almost exclusively when I started.

@Katy GorrillaSection 121 gain exclusion is when you live and own the property for 2 out of the last 5 years.

Your post provides examples of how RE can be risky (all the people selling to you at a huge discount), and demonstrates how the investment class has become more exclusive over time (ability to buy the market/ save up for a down payment becoming less achievable using average wages), but you have not built a case for how investing in the stock market saps your wealth.

The two are certainly not mutually exclusive.

That gives them the exclusive right to buy.

The way I'm able to get that kind of collection rate is almost exclusively due to the fact that each roommate is jointly and severally liable.