They have to feed themselves only and generally get their money from student loans (we both know how reliable the government is when it comes to throwing out trillions in student loans) parents or part-time work.  

@Justin Tortorich,The laws governing a property / transaction will be those of the state where the property is located, not the entity.

Mortgage company denied me saying there is an issue with the 2 hour distance, even though there are no Federal guidelines for distance from home to employment.  

For example, some drawbacks is the $800 franchise fee that applies to LLCs in California, and the LLC would be considered a partnership so a federal tax return (Form 1065) will need to be filed for the LLC as well as a K-1 for each member of the LLC (the IRA and the solo 401k plan).

Depending on the outcome of the federal election, it could come as soon as the first quarter of 2017.  

There are several specific nuances to the foreign seller completing a 1031 but that is another option that would be available to you.If you in any way treat the property as your primary residence then for federal tax purposes you will not be eligible to 1031 it and you will have to adhere to the clock of sec 121 which requires you to live in the property for 2 out of the previous 5 year period.  

In addition to understanding applicable landlord-tenant laws, be sure to thoroughly read through the condominium's governing documents, particularly any policies about renting.  

What I have found when I present this Business Plan that the Government has outlined for the saavy Investor to do, is that they are married, with children and they can't imagine moving, like a person in the Military, every two years or so.

@Donnie N.As far as I know the https://msc.fema.gov/portal is the primary one that is used by all the insurance and government departments that I know of.

, annual government inspection costs, vacancy/turnover costs and miscellaneous maintenance consumes it over multiple years