I only plan on utilizing an LLC if I get pretty big where the cost could be bearable for whatever benefit you may receive ("big" isn't defined yet, but a ways away).Either way, now you've heard the arguments on both sides. 

If you don't have this defined well and initialed by the tenants signing the lease, you will have no chance of getting a judgement on this amount if it came to this in court.

I'm working on a research report and looking for a reliable source for the size of the non-performing and sub-performing residential mortgage loan market in the U.S. defined by either value of debt or amount of loans.

I wonder how you define good deals? 

If you are going to "keep the really good ones as rentals", define what's good for you.(4% return or 20%,Brandon of biggerpockets says he can get 15%).  

I would suggets defining these areas and developing a weekly plan for each aspects.Do the same for Buyers as well.

The following list includes various types of real property that are considered to be like-kind to each other because they satisfy the Qualified Use requirement/test and are defined by state law to be real estate: Single Family Residential Property Multi-Family Property (Apartments) Commercial Office Properties Retail Shopping Properties Industrial Warehouse Properties Triple Net Lease (Net Lease or NNN) Investment PropertiesAgricultural (Farm) Properties Vacant Undeveloped Land Oil & Gas InterestsMineral RightsWater RightsAir Rights Easements in perpetuityLeases with a remaining life, including options, of 30 years or more Tenant-In-Common "TIC" Investment Property InterestsDelaware Statutory Trusts "DSTs" Investment Property Interests Vacation rental properties (income producing) As you can see, the list is very broad and provides investors with a tremendous ability to diversify their investments through a 1031 Exchange.

A good team on the ground is definately important, even more for investors from abroad.

I will explain the difference using an (overly simplified) example where financial freedom is defined as a long term revenue stream of $5,000/Mo.

DON'T LIMIT THE WAY YOU DEFINE YOUR BUSINESS.