You appear to be confusing having knowledge of who the LLC member is and being able to hold that individual personally responsible.

Good info above, but the depreciation is usually THE biggest financial benefit, it's cash in your pocket, so don't overlook that.

They vary greatly, up to each individual bank or credit union.

The $1200 you are referring to is Gross Rent with owner paying ALL utilities - which is financial suicide with S8 tenants. 

Currently, I am deeply immersed in the world of finance, pursuing my Chartered Financial Analyst (CFA) designation.

Each house needed some improvements, so I offered zero down as my cash would be improving the units and his security of the promissory note/mortgage.He accepted as this is the 1st time in 7 years that he's actually putting money in his pocket each month.BTW, I resold each individual property on terms using a wrap around mortgage (which the seller is aware of and approved) at 7% interest to other landlords.

Throughout this journey I hope to meet a mentor(s) who can help me with my vision to own numerous multifamily rentals to create cash flow, financial freedom, and creating a legacy for my family.

How long it takes to be financially ready is different for everyone.

It is true that they do not travel as groups in general, and would have to be ready for individual renters moving in and out at different times. 

It seems to me that people who are in a good place financially would laugh at a sub2 offer.