From my understanding some of the better states to incorporate are Nevada and Wyoming for the flexibility and leniency on business laws, taxes, corporate veils, etc.

It also gives you more flexibility-go ahead and pay it down faster it you want.Run your numbers looking at the difference between a 15 and 30 year mortgage both from the paying it off early (15 years with a mortgage, vs 30 years with a mortgage) adding in the extra cash flow that you get in the 15 vs 30 years.$200K mortgage: monthly payments 30 year term $752/month, 15 years $1300/month over 15 years the difference in payments is $98,640.  

@Cassidy Burns Location is flexible as long as it’s in the district.

You can Alternate the pattern if you want variation and it’s durable and flexible enough to be used almost anywhere.

@Tevis Verrett if there’s money to be made in California, I’m pretty flexible, I’m just looking for good opportunities and to be on a strong team, I’m good with putting numbers together and figuring out cost take ups and stuff like that, but accounting has never been my strong suit, I’m a field guy/manager, I know what it takes to complete jobs and make them profitable.

Portfolio lenders will have different underwriting guidelines than Fannie Mae and can often times be more flexible.

In terms of financing, I'm thinking FHA but I'm flexible.

Month to Month gives you far more flexibility if the tenant turns out to be a bad apple.  

When we first started out, we made a decision that we would be more flexible in terms of our guests reviews and ratings.

If you are renting to riskier candidates, you may want to consider month-to-month to give you more flexibility.