Are CapEx and vacancy factored in already? 

Ideally, I would like to aim for long term wealth and passive income.

I decided on Charlotte after conducting a ton of research on the top markets in the US, and taking a variety of factors into consideration:Home ValuesAverage Rent / Income ratiosUnemployment RatesCrimePopulationEconomic GrowthNet Migrationand most importantly, where we'll be happyI started out with Bigger Pockets own excellent 2017 Market Analysis, and added my own numbers to help me give more weight to the factors I felt were most important.

That was (and is) a factor that catches investors out in any rolling market.  

Hi everyoneNewbie investor.I just found one of the bigger pockets books recently.I currently live in an RV and my ideal first investment would be a duplex that I can completely rent out.

A real estate professional is a distinct designation from the IRS and there are certain rules/thresholds to do before you can call yourself a real estate professional for IRS purposes.You may want to factor in all of the above to see what the cost of cost seg will be and what your decreased tax liability will be for 2017 and what your refund will be from carrying back the NOL to 2016/2015.

Eric,As I am not a lawyer, take this with a grain of salt.My understanding is that an LLC is ideal for many investors when the business itself generates a certain amount of income, usually under $40,000 per year NET.

Ideally one that has some value add opportunity via rahabs. 

However, if there are additional factors I should consider in my search I'd love some insights.Thanks in advance for your help, BP!

If you have like 3-5 deals going that would be ideal I would be able to see couple different areas and learn about this market a little bit.