Do not allow excessive equity in any one property or business.

Over time, as more seeds are planted, if I tend the garden well I expect increasing harvests every year.When the harvests are bountiful enough to meet my expenses, plus a fair amount of excess, then that would be a good time to leave the 9 to 5 if I choose to.Not in any hurry, my job is very secure, pays well, and I can do it as long as need be.

You can earn double digit passive returns without any management headaches, broken toilets, excess resrves needed, etc. and no UBIT.

It is wiser to spend the money on a well drafted LLC now, and then not have to worry about excessive amounts of liability later for poor incorporation efforts. 

I know an investor who went this route but eventually got out of the condo market due to the excessive association fees.

I know you've had the best of intentions throughout our discussions but I never felt that we ever got on track with a concise and systematic plan to get me where Iwanted to be in terms of closing some real estate transactions.I had very high expectations and was given very "glowing" examples/discussions early on with Jon Clegg who sold me on the coaching program which was very expensive in excess of $6200.

We make sure to have umbrella coverage in excess of the value of our properties.

Once the loan was paid off you could pick which other loan it would take the excess cash flow an add it to and so on .

I charge $10 a day but I cap it at $50 because I don't want it to get excessive.

That said, the cap for income subject to the tax is around $117,000 - so if your W-2 income is in excess of that amount you will avoid self-employment tax on these profits for that reason.I strongly suggest that you run this by your own tax pro.