Adding a person to the lease does not mean the rate changes but allows you to screen the person; but they are also adding a pet, which may necessitate more deposit and/or pet rent; the vaping is just a reminder for them to tell the child - NO. 

If instead the building is owned entirely by a single person/entity adding, an additional unit is not relevant to TICs or HOAs.

Hi Cliff,Here are some things to consider:Liability Protection: One of the biggest perks of having an LLC is that it helps protect your personal assets.

I personally hate rental arbitrage (no appreciation or depreciation), but it's a great way to get started if you don't have much capital to work with. 

That will determine what type of brokerage is the right fit as you learn.

Including smaller brokerages that I personally have grown to new heights!

For a portfolio of that size, I'd want 10-15k in a savings account specifically for my rental portfolio, IE separate from your personal emergancy account.

@Lucas MoralesThis is my own personal opinion, with owning over 1,800 units.

Sending you my personal recommendations :) best of luck 

Personally, if prevailing rates are 6% and you are buying at a 5% going in cap-rate, even if you buy your 6% down to 4.5% for the next three years, you are still in negative leverage.3.