SO, something funny...I went to visit my area REIA, good size group, I guess they have monthly speakers, the gentlemen that just so happen to be speaking, FULL of energy, great sense of humor, but there was something eerily familiar about his "pitch".

Of course, the further you got out, generally speaking, the more that trade-off starts to occur.

LLC formation FeesEvery state requires a fee for forming an LLC in their state.If you do business in a state other than the state that you formed the LLC in will require you to pay a fee for doing business in their state.Creating multiple LLC's can increase to the fees depending on how many LLC's you have and how many states they do business in.Regardless you should speak with an attorney on LLC formation.In regards to a state income tax perspective - The aggregate state income tax will likely be the same if they are all disregarded for tax purposes.Some things to note is that some states do require a separate tax return for LLC's(even if disregarded) such as Texas and California.

I'm looking forward to learning a lot from you all and forging and being a productive member of this community.I am a software quality assurance manager in Toronto, ON and live in Niagara Falls(St Catharines) ON.

It would be more appropriate to lease the land to someone running cattle and paying your IRA rent.So, this transaction likely does not fit well with an IRA.Generally speaking, when the thought process is "I would like to do 'X'. 

I am not convinced that there is any difference in quality between providers for the basic service that they offer.

However, I'd bet dollars to doughnuts there are also going to be damages.Generally speaking, tenants who pay their rent on time return their units in a good, clean condition. 

Though I have not purchased my own real estate in NJ so I might be unqualified to speak about it; I would say attend Brandon Turner's webinar which he typically holds every week on this very topic! 

Ask to speak to the loan officer and ask your specific questions and take notes.You'll surely find one that will work with you on reasonable terms.  

None of the moldings/doorways/architraves/baseboard are going to look right.You can get all kinds of different results of different quality, it just depends on what you're willing to invest.