Congrats on taking action and working towards your financial independence!

On the other hand independent restaurants where people get to meet the owner, manager, chef where they deliver quality and service, and the customer feels cared for and appreciated, those places are booming today. 

@David Dachtera - Sorry to hear that your J.O.B. is ending soon, glad to hear that you have already started on your path to financial independence and this site and your community are in place to help accelerate that journey.  

If you purchase the property as tenants in common, then either of you can sell or pass-on your interest independent of the other - unless you have an operation/shareholder/partner agreement which spells out that the other party has first opportunity to purchase the holding of the other should they want to sell.You are headed in the correct direction that you should have an operating/partnership agreement between you and your sister ... it's worth spending a few hundred with an attorney to have one drawn-up and executed.

Ideally I want to place each property I purchase into an independent LLC. 

I would hook up with an independent agent in your local area who has expertise in the Real Estate Industry.

And the actual event was analyzed by an independent third party that talks to the decision makers. 

I've never found an independent bank in Dallas area that didn't have some sort of program for LLC.  

I live in the UK with my wonderful wife, Huda, and we are both PhD Students at the University of Nottingham.Huda is working on helping cure brain cancer, and I am working on using wireless technology to give blind people more independence in future cities.We have basically 0 real estate experience, but are very willing to learn.

It basically points out that cap expenses are independent of the cost of the property (ignoring size and bathroom counts).