If you are set on self managing though, here are answers to your questions:- Most of the time in the U.S. it is just first month's rent and security deposit, I believe that this is actually determined by laws that vary from state to state.

Setting up and maintaining an LLC comes with annual administrative costs, so another thing to consider is your cash flow.

This is the type of work that sets the pros apart from the novices.

Hello, I'm mostly writing to confirm my suspicions as the regulations are a little unclear/I'd appreciate a second set of eyes to make sure I'm not completely off-base.

Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey. 3.

Set an alert on here for "Buffalo meetup" and you'll get notifications.Without knowing your entire situation, my first reaction is to recommend you house-hack.

I initially set out with the goal of house hacking a Multi-family property, I quickly came to learn that not only does my area not have many MFH, but the ones we do have are way out of my budget. 

It can be seen as a unique amenity that sets your property apart and attracts potential renters.

It is zoned commercial and set up currently as a 5-unit with long term renters.

I am hoping to start a 1031 exchange and I am wondering if I would qualify before paying the fees to set one up.