BP is one of the best online real estate investment websites.

Btw, if you want to play around with CAP rates with single family investing that's fine, but typically CAP rates only come into play with commercial property. 

(disclaimer: I do not play an attorney on TV and definitely not in real life) One thing I see that makes having a license easier is having the MLS to pull comps and value properties.

There is some grey, but do you want to be open to the risk by playing in the grey? 

You got a good thing potentially if you play your cards right imho

Id like to first thank everyone here on BP and mostly @JD Martin for all his help through his online business.

UNLESS you think there is going to be some VERY significant appreciation at play  ..you may want to talk to your accountant before you do that.  

You can easily set up an LLC in Ohio online through the Secretary of State for $99, however your Resident Agent must be located in the state of Ohio, which means they have to have a valid physical address in the state.  

The agreement can be whatever you want, just like an online advice :) However, for taxation purposes, this idea of @Carl Fischer will not work without modification.

I found that multifamilies (which I am interested in investing in) are hard to come by in that area (although I have only been looking at online sources).