@David Asche,While it’s legal, and perhaps even encouraged by the government to avoid taxes by doing things they want us to do (invest, support the housing market, creating jobs, etc.), they really frown on evading taxes.

I would encourage you to treat it like a business. 

Job changes are a big deal to lenders and can potentially be negative so before making a job move I would strongly encourage talking to a lender first.

One of our more recent clients did a LOT of due diligence on us before purchasing a property, and that included all of the following: Speaking to 3 of our other clientsCalling the local police departmentCalling the local news stationResearching the local school district and chamber of commerceSpeaking at length to our Client Specialist (I think it was probably 6 hours on the phone total).Talking to some of our other business contactsAsking about us on BiggerPocketsI always encourage everyone to dig deep.

He won’t even have to provide a Private Placement Memorandum although it’s highly encouraged for added protection.

I usually encourage people to at least have an attorney draw up their first LLC so they understand the language and can be taught how to keep it compliant.2.

I'd encourage you to follow Dave Ramsey's radio show/podcast, his FB group and to read his Total Money Makeover. 

I’d encourage trying to find something where the repair budget would be $30k-$35k for your first job and stick to things that anyone can do and doesn’t require licenses like kitchen, floors, and baths.

I would really encourage you to try find a local mastermind group around you to try and attach yourself to another investor who can mentor you through the initial stages.

That's why I encourage people to go to these live event people hold, get around people doing more than you, see that it's possible for them so why not you.