If you would like to discuss more Imani feel free to reach out.

Like how many have done this? 

Seems like too much for a cleaning service and not extensive enough for a mold remediation company.

Sounds like there might be some more facts of the entity structures since you imply a k-1 will be involved but only reference ownership of property A.

I would like to have at least a couple properties before moving out of state that will at minimum break-even on cash flow as a LTR with property management long-distance.Other info:Looking to move out on Memphis with my wife in the next 2-4 yearsLooking to start a family in the next year or soComfortably have ~50k ready to invest sitting in HYSA, excluding Cash reservesHave an extra ~$70k in stocksMost interested in A- to C+ neighborhoodsI currently own & live in a 2/1.5 Condo locally (3.5% interest rate)Not allowed to rent it outHOA fees have risen to where PITI + HOA = $1100/mo.Have ~$100k trapped equity, good zip code I could sell quicklyOption A: Purchase another primary home locally I could live in for 2 years (lower interest rate), with intention of eventually converting it to LTR when I move out of state.

Of your assets, which one do you you like the most? 

@Bob Stevens  you know this rule just changed like 4 months ago?

Anything that has an attractive price in 32206 or 32209 is either in a D class neighbhorhood and/or a property that needs significant rehab.The further you go from the center of downtown, the more likely the property is in a better class neighborhood.The exception being springfield where it is close to downtown but considered a good neighborhood.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

A smart tenant will avoid a property setup like this.