LLCs must register as a foreign corporation when they do business outside of their main state, so they are subject to the laws of the state where they do business.If you personally install a vent for a hot water heater and do it wrong and someone dies from carbon monoxide poisoning you will be personally sued and all of the LLCs in the world will probably not protect you from suit or liability.

My situation:I own a triplex in Chicago, live on the first floor and rent out the upper two.Cooking gas is separated for each unit, but a single hot water boiler heats the entire building.

A couple more clarifying points on this particular situation: --it is a very hot tear-down market and there are at least 5-6 other developers working on new construction homes within a .25 radius, all paying in the same general price range for similar lots.

We ended up moving into another place.If it gets hot in the summers I'd say, go with the air conditioning.

No drugs.Put in the lease no swimming pools, hot tubs, fireplaces, fire pits, trampolines, weapons, fireworks, firecrakers, incense, hookah, smoking, underage drinking, etc.There will be more wear and tear, and it could be harder to charge any one tenant for damages to shared common spaces.

Surprise is a hot area for investors right now.

GSREIA used to be hot but I think they had the wrong folks in charge at one time who were just playing Bully with their online forum. 

Guy 1(My mentor) further counters that vacancy rate is actually 7 days per year cuz the area is hot so I shouldn't use 10%.

Sounds like you struck while the iron was hot.  

.- In my experience Best case scenario at least 30 days of listing and 45 days of underwriting...Unless you are in a hot market or discount the price well below market.