What are somethings I need to do in order to achieve this goal and to begin working on it immediately!

On a rental the schedule is 27.5 years with a mid-month convention, so the month it became a rental is important that's when the depreciation starts, not the whole year.

Thats the whole point of leverage.

We will then transfer title to the LLC upon closing (we have received lenders permission to do this).My question is, when we come to purchase another property will the lender view me as responsible for the whole mortgage debt and only 33.3% of the income?

Plus I painted the whole house and it cost me 2000$.

You have to rehab it, market it, sign a bunch of paperwork, hope deal actually closes, etc etc"I think you make a good point in that you should be looking at all of your investments as vehicles and ask "do they suit your comfort level and help you achieve what you're trying to do?"

@Jordan l@Jordan Leithart If you're going to invest out of state, my advice is not to choose a market based on the fact that you spend a lot of time visiting family there but base it instead on whether the market fits your criteria and offers the best chance of achieving your overall financial objectives.

The rest are ok for now, but the plan is to remod the whole building and get those high quality renters in place.

I know the whole It takes two years or so to build the LLC credit and after that the LLC should be able to obtain a loan as an entity. my question is geared towards before we hit that two years of building credit.  

I did this deal many years ago and it took a fortune of cash.I worked *hit properties to get that cash.In your case, Jon, I'm going to be honest and say it is highly likely there's a mysterious allure to having a plan to buy a whole bunch of units 'way out there' as if you have discovered some really cool advantage that others have missed.