I would advise to purchase a rental that does not need much rehab as your first property.

For example, 2 or 3 bread and butter 3bd/2ba SFR can easily be purchased with $400k and will generate more cash flow than the townhouse.

(Pros and Cons)My short-term goal is to generate a cashflow of $5,000 or more on a monthly basis... 

@Damon TylerIt is confirmed that LLC's, individuals and S-corps can be members within an LLC.I would not advise the LLP.

Mindful of the fact that I'd like a way to generate income to reinvest and grow and I don't know anything about buying and selling REO, notes, tax-liens, and all the other seemingly 'quick-turn profit niches out there , is Multi-Family smart to start with?

Not really concerned with what others may think myself but would strongly advise against a mix of welfare and market rents.

Hello all,I have the opportunity to purchase a 3 structure property in the heart of Portland. There are 4 total units (single family, duplex, & mobile home). The property is zoned R2. My residential lender has exp...

I don't think you are looking for something else to keep you away from your family for an addition 40+ hours a week, I think you need to figure out what type of investing you are interested in that can help you create the life you want.My advise is to do research into what that is, and then learn the basics of that particular niche. 

Based on the opportunity value of cash it is costing you $2 for every $1 it generates. 

I would say as a client it has very little practical implications under which umbrella an agent operates; the key issue is to work with someone who understand what you are looking to do, preferably has done it themselves and can advise you.