If I were in your position and I had no idea which direction to go, before I started asking about lenders and locations, let's listen to the podcast and hear other people's experiences and find what resonates with you.

Thus, while we are strongly committed to preventing improper transactions, including property flips that are predatory, fraudulent or otherwise illegitimate, Freddie Mac encourages continued legitimate and sustainable investment in distressed properties and distressed neighborhoods.Again in their November update:http://www.freddiemac.com/learn/pdfs/uw/bp_propflips.pdf[i]Transactions that Freddie Mac Considers to be Property FlipsThe term property flip refers to a transaction in which a property is purchased and quickly resold for a significant profit.

Cost of capital will also be a driving factor so I would recommend taking time and vetting local lenders until you find someone that resonates with you and your goals.

It provides good asset protection, but you typically must personally guarantee the bank note, and oftentimes, there are covenants in the note that say you cannot transfer to an LLC (its OK, everyone does it anyway, and as long as you remain current, the bank does not care)For your personal home, you can transfer to an LLC and hold it in that entity if you so choose, however, you may not be able to take advantage of the asset protection because you will still have personal liability to injuries sustained to those you invite to your own premises (i.e. you invite someone to your house and upon you leading them to your man cave, they fall down the stairs and break their ankle, you are personally liable no matter how the house is held)

The question is, what is really the quality of the rental population and can they sustain your planned rent increase?

Chair of Sustainability and Renter's committee is socialist whose goal is to abolish private property.

As you connect with sponsors that resonate with you, take the time to develop a relationship with them.

@Rodrigo Serzedello When I lived in Florida, we had 4 hurricanes in the Gulf in one season...we did ok...minor damage...one of the storms moved into Ohio and setup shop around Dayton...50-60mph sustained winds for about 2 days...everyone in town had roof damage and entire neighborhoods got new roofs...insane but it happened...and it was a rare occurrence...in the end it was not that bad, really.Overall, Ohio has one of the lowest risks of natural disasters in the US...no need to consider going anywhere else.

With five of these, it can yield good results if can wait, and while the level of effort is there, it's sustainable with a full time W2, and can't be nearly as much effort as having many dozens of doors that are leveraged for a very long time. 

Change your story each month as different stories will resonate with different people AND use each story to emphasize one of your “who do you know…” questions.