I also think it is a good idea to minimize your taxes now, while positioning yourself the best you can for the future (where everything is an unknown).It certainly would not be a bad thing to also use your retirement accounts to invest in real estate (as long as you are very careful to follow the rules- avoid self-dealing!). 

If you feel as though you will do more deals in the future but with a different ownership structure or people as owners, you can consider creating a new LLC then.You also might want to be sure to check with the lender that they will loan to an LLC. 

It really gave me a new direction and a hopeful attitude toward my finances and to my future.

I look forward to see where this business can take me in the future .

I've read that you can include future rental income on an FHA application, but can you include the rental income from the previous place? 

What I've learned is that employees don't understand time and money, and they don't see the future.

It would also make him unable to sell in the future in case he ever needs to move.I think I can make a condition of the loan to pay prop tax.The other option is that I will have to give him cash to pay his living expenses.

If you have been there 6 months I would focus on trying to improve your future appraisal for refi.

The biggest risks financially would be that you buy into a condo association that issues a special assessment in the future or starts prohibiting rentals.

Hopefully I'll see you at a future one.