But it's best to jump in feet first.One thing that's helped - I've been able to grow our organizers by three additional people - we have a US / Korea Liason, a bilingual research analyst, and another coordinator.

Yes, insurance should be in the LLC's name in this instance and you should also have yourself as an individual and "yourself, Member" listed as additional insureds.

Although right now I don't have close to enough capital to get started I want to take this time to learn and gain as much experience as I can until I buy my first property.

Complicating this issue is the need to do a 10-31 due to stepped up value/capital gains tax on half of the land.  

@Blair Bennett a lot of people would benefit if they sold their primary every time it gained $250-$500k

For myself, I think my ultimate goal is to have an alternate cash flow to offset my dependence on a day job, which would allow me to choose a job I enjoy rather than have to find a job based on salary and ultimately allow me to travel with family more and enjoy life rather than stress about money.Thanks in advance and hope to connect and gain wisdom!

Would I have to pay capital gains on this sell?

@Nicholas L.Of course, additional rules won't protect 100% but at least something to use if anything goes wrong because my last tenant cost me more than 7K to repair. 

The 2 cash out gains and the gain on the sell even though I used the gain on the first 2 refi's to buy rental property and didn't use it to do any repairs on the 1st rental property. 

Cali and Florida are states to break into after:1) You've made some money2) You've gained some experience