@Sam FaasI won't knock you for paying cash but just because you don't need flood insurance, does not mean it's a good idea to not have it.

I didn't know why I would need a license and for what.

Heck no, but ya don't need everyone, ya just need those right few. 

You'll probably need a dedicated bank account for the LLC so you don't comingle funds and "pierce the veil" of the LLC.

My position has always been that they are unnecessary for most investors and don't provide as much protection as people think.

I know all the second home loan requirements so no need to hash that out here.

I have definitely been a little paralyzed trying to find the "perfect" deal over the last few months, so hearing that it talked about it a bit of a relief. 

I'd probably need a more specific question, just because you mentioned a lot of things in the post, and I wouldn't know where to start without having to write paragraphs and paragraphs.

I agree with everyone on house hacking as a much smarter first purchase because you will get landlord experience and learn to understand cap ex.

You still need material participation to take losses against ordinary income.