Listening to the courses and traveling to the venues he had in Dallas and Orlando helped me more so than my wife with my real estate knowledge, and I say me more so than my wife, because she introduced me to real estate when we began dating in 1999.

Id like to first thank everyone here on BP and mostly @JD Martin for all his help through his online business.

Or should I put that $50K into low expense ETF's while looking for another good rental property to purchase at a later date. 

Plus, I could only rent it out for 2 years, for the free capital gain, because its a primary.I probably profited 40k or so, from purchase date.

You can easily set up an LLC in Ohio online through the Secretary of State for $99, however your Resident Agent must be located in the state of Ohio, which means they have to have a valid physical address in the state.  

The agreement can be whatever you want, just like an online advice :) However, for taxation purposes, this idea of @Carl Fischer will not work without modification.

I found that multifamilies (which I am interested in investing in) are hard to come by in that area (although I have only been looking at online sources).

The books that have helped me the most so far are the Rich Dad Poor Dad books, and playing the free version of his game CashFlow online.

Can I purchase the condo and at a later date, if I determine it necessary, sell the investment property I already own and 1031 exchange the proceeds into the condo I have since purchased?

The difference is that with the Triplex I don't have as high of a future value as I do the 14 plex.My 3rd a 22 unit - This has the highest return, This is my best deal to date, and I would say that is a result of my previous 2 deals in learning better planning.