;)I learned early on never to rely on what a challenging tenant says they are going to do, but what they actually do.

What are the rents like, and did you face any major challenges that were unique to the region?

@Lee Ripma is correct - as a California resident actively engaging and managing an LLC from California, California will declare nexus and require a registration, a tax filing and a minimum $800 fee each year.Marketing into other states may or may not create nexus (depending on each state's laws, so look them up) and need to register/file in that state, but as @Wayne Brooks indicated, you will most certainly need to be registered in any state where you want to sign contracts and otherwise conduct business in that state.From each state's point of view, anybody who wishes to sue you must be able to do so in the state where the transaction took place so you must be registered in that state with an agent who can accept legal service on your entity, should the need arise. 

It is extremely rare that a buyer or seller in a residential transaction will engage an attorney.. 

The challenge is that even if the product is new, at a 4 family it trades on comps, which will be difficult. 

The biggest challenge and expense is tenent turnovers.

Finding an investor friendly real estate agent has been the biggest challenge so far.So far every time I look at a foreclosure my agent does everything in her power to keep me from looking at it.

This, specifically, is to be applauded in my opinion:To encourage more landlords and property managers to participate in the HCV Program, HUD’s new Landlord Task Force will host a number of forums across the country to engage directly with housing providers, specifically those who do not participate in the voucher program.

The way my schedule is it would be very challenging to commute outside Ann Arbor.

They are in a good area but historical district which I understand has some challenges associated with fixing up the place.