It sucks to go slower than you want to, but in the long run I think you'll sleep much better at night.

You should know the rules inside out or be working with the professionals that know it.Incorrect moves can result in not only a taxable event to you but to your investors.Based on your most recent response, i do not think you have a good understanding of1) requirements of the QOF(You may need to substantially improve a property)2) How long you need to hold a property before it can be sold to exclude the gain3) Inside basis vs outside basisBest of luck

For real estate specifically, it depends, in many instances an LLC is not required but ok as long as done properly (properties are bought in LLC and not bought and mortgaged in your name and transferred). 

I am a rookie investor looking to invest in SFH to hold as rentals long term.

please note I need to relocate to another state due to my job and don't wish to be long distance landlord managing a triplex.  

I have been sniffing around for nearly a year and a better understanding of the area rental market.it seems long term rentals are no go as there are so many competitors and rent could go as low as 850$.

Margins are small, and to me, the real wealth-building in REI comes from the long-term appreciation, not the short-term cash-flow.Anyway, welcome to the forums.

@Amy Lin - If it were me I would have an experienced attorney start the eviction process immediately.They are probably going to hang on as long as they can rent free as they have the closing proceeds.They might care about their credit if they do plan on buying another place, so you might have some leverage there.

Hey guys,Wife and I are looking to get started in long term rentals to hold long term.

Bravo & congrats on thinking this through for the long term in filing your taxes with the income on there so it qualifies for ongoing income in the long run!