Take into account elements like diversity, tax advantages, cash flow, and potential for appreciation.Determine Your Risk Tolerance: Investing in real estate entails some risks, such as shifting market conditions, vacant properties, and unforeseen costs.

That’s loan payment, property taxes, insurance, maintenance, utilities etc etc.

Or any tax strategies that I’m potentially missing out on by not setting it up in an LLC versus personal conventional mortgages?

One other thing to consider is tax implications if you sell. 

Stupidity tax. 

As far as I know it's just the jump in property tax that comes into play.  

I also want to make sure tax wise I have the best structure possible. 

Hi Jacob - I have a network of partners from financing to tax strategy, REI coaching, etc...who can help answer a lot of these questions and get you some guidance. 

a single family to a multifamily property is perfectly fine.Lastly to your question - You must purchase at least as much replacement investment real esate as you sold if you want to defer all tax.  

@Josh Roman I have one that’s two houses with three units on one tax parcel linked to a second tax parcel that has always been on one mortgage.