Having these conversations with the CPA as I converted my books has completely changed the way I think about my record keeping, how I take draws, how I may structure partnerships and investors going forward....Other than perhaps a good real estate lawyer, from my experience, a good CPA is critical to a young real estate investor's performance. 

i seem to agree, @Jessie Tetreault stated the taxes seem a bit off, but otherwise the numbers work for you then pull the trigger, keep posting but most of all keep sharing

Say a deal lands in my lap tomorrow, and I have everything in place to pull the trigger on it.

I'm ready to pull the trigger as soon as I find the right deal!

I'm eager to learn about it and I'm not in a hurry to pull any triggers yet.

In my opinion, its "analysis paralysis"... just find good deals where the numbers make sense, regardless of location and pull the trigger before others find out about the deal. 

If you've been preparing to do this for the past couple of years and you haven't pulled the trigger yet, it sounds like you are stuck in Analysis Paralysis. 

I have registered both a Corporation (taxed as an S Corp) and a LLC member managed (taxed as a partnership, since there are 2 of us in my buinsess) in my home state of Minnesota for the filing fee of $150 each. 

This is risky too, though, since it could trigger the "due on sale" clause and the bank would have the right to then call the loan due if they wanted to.

However, I was unable to find any authorities that would prohibit such a sale to a related LLC taxed as a partnership.