I'm primarily looking to keep my investments in Tennessee as the price point is considerably less than California. 

By reducing your basis through accumulated depreciation, you effectively increase the taxable gain when you sell the property.It's essential to keep accurate records of depreciation, as it can have a significant impact on your tax liability when you sell the property.

I am a bit confused on how to structure it all to keep the funds from the real estate business and property management business separate. 

I'll definitely keep that in mind thank you.

Good Morningyou can pull out cash / refi to keep purchasing more property

I opted to keep paying TI out of escrow for now.

Keep an eye on the market, maintain good tenant relations, and consider diversifying for future investments.

If you have savings, keep saving.

Hi All, I have been interested in REI for a number of years, but always let hurdles (primarily not enough money) keep me from really starting my journey. 

ConsMore complex setup - lawyers and regulations can be a mazeLess flexibility - the structure is more set in stoneHigher costs - gotta pay fees to keep things running smoothlyMy Take:Sounds like syndication might be a better fit.