There are arguments on both sides, and I'm still leaning towards creating one.  

I'm with you Account Closed, he is creating a a second mortgage/DoT on one of his property and selling the note associated with it.

Older homes have more risk, in my opinion, because things may not be level, you many not be able to use standard/bulk items, specialty items cost more, you need to create a space that matches the house period, and the potential pool of buyers who desire older homes is smaller (at least in our area).

Marvin There are so many things to consider, the way I will go about it will be by acquiring a debt weapon, home equity line of credit maybe for 20,000 and use that to pay down your principal there are some good youtube videos that will explain how to pay down your mortgage faster and save thousands of dollars in interest, but you need to have at least $500 of cash flow each month for that to work or use that to pay of a car payment faster anything that will increase your debt to income ratio so you can start saving more money each month cut down your monthly bills pay off all credit cards anyway you can i will try to get out of any car payments sell the cars buy a use one before selling the house, rent a room is a big house. obviously like i said lots of things to think about do you have kids so maybe a roommate wont work and your finances with out looking at them is hard to plan but I will try to make that house the investment get created if you have good credit that’s exactly how i started i hustle pay down my principal using the HELOC technique and when my equity become more because of lowering the principal I call my lender and increase my HELOC amount to the point that i was able to buy a house cash using the HELOC my HELOC became my checking account and i was paycheck parking all my income in the heloc is hard to explain what i did in a text but i hope this help you in getting created and into looking at more information before you sell or selling is the best way to go about it.

There is a decent bill at the state level that wants to change zoning in order to create more density .

I recently inputted the keyword searches you can create in your profile and it is invaluable to getting content that is important to you.

Think big, start small.Multifamily will allow you to scale and create a great businessBestGino

So my wife and I created an LLC with an EIN and are about to fund a company bank account with our savings.

Given this, I am going to be creating an corporation in the state where I will be buying properties (Florida).

If we plan on purchasing more investment properties in the future do you suggest creating individual LLCs for each property for further protection?