The patrons want to hear live music, and the club owner wants to have live music, but the patron doesn't want to pay a cover charge and the owner doesn't want to pay the band so everyone thinks the band should work "for exposure".

The second pillar is a good insurance policy as that cover the majority of your exposure.

My only personal exposure to real estate has been through RE finance classes during undergrad studies at CSUF.

I have little to no exposure to real estate outside of my primary home.

If you plan to keep the property for X years, clean up any threats or exposures now so you'll be ready if or when you want to borrow or sell.

The reason for an attorney is mostly asset protection.I want a guy to help direct moving from a personal loan to an LLC and advise all avenues to help protect me.Lastly, my wife and I are both high income earners and should disaster strike via bankruptcy, lawsuit, etc I want to limit her exposure as much as possible.Out of curiosity chinmay did you go to penn state?

If you can't do tax with Big 4, I would go with a smaller regional firm where you'll get exposure to everything.  

Your liability exposure lasts forever.There are some "tricks" or "tactics" if the prior TI company provided coverage and they are providing the next policy, knowing no issue popped up during your hold, on established lot descriptions say over 50 years where title claims would be a lower risk, you have an insured closing letter on settlement and you have funds to play ball.

I hope that changes and I want to buy an investment property.. however, I still have cold feet because the luxury of investing in REITs which are very professionally managed gives me exposure but it doesn't satisfy my passion.

With your education and training, it would seem that Project Management would be a great fit, and give you exposure to all aspects of the business.