Also, because it's an investment property, any property you purchase will probably require at least 20% down and have a slightly higher interest rate.

Here are some key points to consider:Accessibility: Residential properties are often more accessible to individual investors, especially those starting out with smaller capital.Tenant Stability: While turnover can occur, residential leases tend to have shorter terms, offering more flexibility if you want to adjust rents or change tenants.Market Liquidity: Generally, residential properties are easier to buy and sell due to higher demand from individual homebuyers and investors alike.Emotional Appeal: Homes and apartments can have a strong emotional appeal to buyers and renters, which can influence demand and pricing stability.Purchasing: Residential real estate will require a down payment of at least 10% of the purchase price. 

This is critical early on when you start investing.Better Property Management: Understanding the basics of plumbing, electrical work, and other home systems means you can quickly address minor issues before they become major (and expensive) problems.

There are also various Excel templates available that can help you track expenses, income, and more.Networking: You're already on the right track by seeking connections within the Bigger Pockets community.

You should be able to pay it from LLC and document as 'expenses' for the LLC.

As a former CA resident I left because it was too expensive to invest.

An Attorney will help with creating an LLC.LLC is not required, may make getting financing more difficult.It may provide some asset protection.Most of the asset protection that you need will come from the insurance policy.Discuss with the insurance agent on situations that you are not protected.Have a discussion with an attorney if your extra concerns can be protected through an LLC.

One of the books I have read suggests that I should use a separate banking account to handle all the income and expenses for one rental property, even if I do not use an LLC.

Because construction is like herding cats, financially and time wise.Your architect never mentioned this special ceiling requirement? 

Having a license doesn't bestow magically knowledge on yourself.Most brokerages require that you complete a certain number of transactions under the guidance of other agents for a reason.