Since that first exposure, I have been reading up on everything I could find and plan to keep learning everything I can leading up to my first investment.

Imagine how professional the individual is that is willing to cheap out on marketing through hand written signs and his only exposure is on the corner of some intersection.  

They have the name recognition, but more of these companies are being purchased by larger travel websites and gaining quick exposure. long term to short term can be two completely separate beasts however the short term can pay off much quicker then the long term and give you the option to use the home when you want.

With an LLC, your exposure is only the personal assets you've put into the entity rather than all of your personal assets.  

We broker for a lender where the max exposure is $3 Million.

Creating an LLC taxed as an S-corporation for each property would be quite costly(depending on how many flips you do in a year).A) If the property is in CA or if CA deems you do be doing business in CA - CA will charge a minimum tax of $800B) You would need to pay a fee to register and dissolve each CA LLCC) you would need to pay a fee to your accountant to elect the entity to be taxed as an S-corp.D) you would need to pay $500+ for each S-corp tax return to your accountantWith that said it depends on what your exposure is for liability purposes to see if it is worth it to have multiple LLC's.If you have 5 fix and flip projects going on at once and a contractor sues you for whatever reason - are all 5 fix and flips exposed?

We have clients holding assets such as real estate that create liability exposure as well as assets such as stocks or notes that really do not create much risk.  

Increasing your portfolio increases your income (offense) and paying down/off rentals reduces your debt exposure and your debt : income ratio (defense).

It is not a home run but it is not a bad deal either.I am not familiar with Wheat Ridge BUT if that area is a hot area where house prices are projected to increase or keep increasing over time, that would make it a very good deal, in my opinion.With  a property that cash flows well enough to keep it, the exposure to house price appreciation would really be the icing on the cake

So it sounds like with land, development costs the 1,800,000 would be close to what you could build something brand new for.So then the question to ask is there other locations that are better where you could build new for cheaper and have better exposure for your business?