I am in the finishing stages of a year+ gut remodel. 

Hi everyone, I'm in the nascent stages of establishing an LLC with my partners (4 in total), and am curious if your experience recommends we draft one ourselves or we rely on legal counsel to draft?

Right now, I am in the beginning stages of buying my first rental property.

Given the stage of the economic cycle (pre-covid) you would have to be expecting huge returns for taking on so much risk.

Joaquin,I'm still in the early stages of exploring the partnership, so i can't say exactly how long it will take.

Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started.

Things you should consider include what stage of life you're in (far from retirement, nearing retirement, or retired), risk tolerance, diversification vs. focus, knowledge level about the asset, time available/required to manage the investment (tax liens vs. note fund), and more.

But I guess overall just looking to connect with people who are in a similar stage of the game (and still definitely those way beyond me).

At my stage in life (job I like, two small kids) I am selling my rentals to move to passive investing. 

Too many times starting off I would get excited over a verbal agreement, a written purchase agreement, etc. only to have the deal fall through at numerous stages of the process (even the day before closing). 8) I've learned to be a lot more understanding of my tenants and treat them with strict rules across the board but still in a friendly way so there is mutual respect.