Chris, when you say 95% of brokers are eliminated for not being able to provide successful transaction references, are you referring to actual mortgage brokers, or are you referring to the people that attend a “cash flow” seminar and believe  the easy money hype? 

Most people who lose in real estate see it as a road to short-term riches, which it generally is not.

When that area was built, people flocked to it for it's affordability, but over the course of several years, it became like a ghost town. 

There are pros and cons depending on your goals.Why an LLC Might Be a Good Move• Helps protect your personal assets in case of a lawsuit• Makes it easier to bring in partners in the future• Keeps your real estate finances separate from personal accountsWhy It Might Not Be the Right Move Just Yet• Most traditional lenders will not give a mortgage to an LLC, so you may have to use commercial or DSCR loans, which usually have higher rates• Some people assume an LLC will save them money on taxes, but rental income is still taxed as pass-through income for most investors• There are extra costs like annual filing fees and bookkeepingA lot of new investors get stuck on this decision, but the reality is, you can always start out in your personal name and transfer properties into an LLC later.One more thing I wish someone told me early on is that property management takes more time than you think.

Plenty of people do have 10-20 unit and work thru it, you just need to think it thru and have a plan if you don't want to do all the work. 

So it may end up costing you $400k within 30-60 days without any financing options.How do people overcome this when you do your due diligence?

I'm all over areas with at least 50k people (Loveland, CO), but also places with a 1M+ (El Paso) and Large Areas like The Greater Denver Area. 

I would love to speak with people that have experience in the area.If one of your friends would like to talk to me and share some advices it would be great :) 

The short answer to Kaleb is that 'yes', people in BP Nation have 'experience developing or owning something like this.'

Every tax season, I see people unintentionally overpaying the IRS.