We DO want to flip when the opportunity presents itself (to increase capital) but our main goal right now is to acquire about 50 units that cashflow at least $800/month so that we can maintain our current lifestyles while solely focusing on REI.  

Hi @Brian Pleshek,ResidentScore is similar to a credit score in that it is based on the credit report and is scored on a similar range as a typical credit score: 350-850 (meaning you can maintain your 640 cut-off).

Ok, I did a bit more research and found the following 2 articles both supporting @Don Konipol statement that single participant defined benefit plans are NEVER considered ERISA assets:http://finance.zacks.com/ira-accounts-erisa-qualified-6814.htmlMost individuals create and maintain IRAs for their personal benefit.

Plus the small cabins are so much easier to maintain since it’s mostly couples coming in and out.

Yes it costs more because I have to pay for 2 closings but it is better this way to maintain a good relationship with both the seller and to do more future business with the buyer. 

It's easy to buy a $20-$40k property in this area but it's difficult to get and maintain the good tenants. 

We maintain our own “Property Manager Interview Questions” and if you or anyone else is interested in a copy, send me an email.

In Placencia It is very private, if locals are there they are usually working for the owners and staying in their villas to help maintain property.

If your PM is expensive, but keeps your properties occupied and well maintained... be happy, sleep well and have a great day.

Personally, I don't know of anything that would require more capital to start or maintain an LLC taxed as an S-Corp versus an LLC taxed as a partnership, but again, I would trust them over me...