If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

B grade property walks are attended by my children to run around and tell me which bedrooms they would pick if it was their home.43605, 43608, 43609 are the popular zipcodes for bottom-budget value purchases...I manage a ton in these areas and my personal portfolio contained over 40 43608 properties at the peak. 20% of these properties will be crazy money earners, 20% will be astounding money pits, and 60% will fare average.I have evolved into the nicer 43612/43613 for my personal portfolio and find the properties earn consistently and far smoother than my 43608 houses. ($80k renting for $1200 vs $40k renting for $800 multiplied by the ratio above vs boring consistency of the nicer area) Oh and I have zero excitement for apartments.

See what I personally did in my comment below in #2! 

- Loan Type and Liability: Implications of personal vs.

What if one person wants to sell, if one person gets married, when repairs are needed or someone wants to do renos (for cosmetic reasons). 

They have a more modern view the marketplace than some of the other, more traditional outfits like MDS.When I was active in senior housing, I was the in-house feasibility study point person doing both the forensic analysis of the market and competition ultimately making the recommendation for go/no-go on a project.

Hi Gustavo, it really varries for each person.

Plus you can call them when they area bottle deep and ask for some personal referrals!

The average person can totally achieve financial independence easily with education, self-discipline, and consistency. 

Just a FYI you don't need an LLC to do RE investing. if you are looking for the checkbook control then yes you will need one, make sure the custodian you choose explains the prohibited transactions and disqualified person list to you.