And yes it's absolutely vital to read a ton of books, blogs and listen to podcasts every day to continue to grow your knowledge foundation.

And contrary to what many want to make us believe in courses, blogs or otherwise, it takes time, dedication, perseverence and money to make money.Learning is vital but can only do so much.

@Samuel PascalI have my real estate license and I think it is vital to have it in order to better understand the client side of things.

Additionally, you add some layers of privacy. 

It is as vital to real estate investors as a stethoscope is important to a doctor. 

It might cost an extra $2k, but having that sound proof layer might save lots of headache from tenants calling to complain about noise from the upstairs.

Not even double (I do have higher geographic cost).Jobs that make 100k+ with no college degree: sales (insurance, cars, software, medical, RVs, real estate, etc), trades (plumbers, electricians, even carpet layers in my area make 120k/yr).

Your initial balance sheet should look something like thisAssetNote receivable - $10,000EquityDavid Hite - $10,000When you get the payments from the debtor - you will record a portion of the payment as payback of principal and a portion as interestCash - $100     Interest income - $10     Note Receivable - $90There can be an additional layer of complexity if you factor in the account "discount on note receivable" but the above is a good starting point.

I'm not an attorney but my understanding is yes, you can definitely do that, and I believe things like that happen every day.While I can see some possibilities for why someone would want to set things up that way, I do have the instinctual thought that it might be over complicating things.Technically the second LLC is another layer of asset protection, and maybe you have a very specific entity structure setup for taxes which would make it beneficial to do it that way (an LLC inside an LLC), but it's worth asking the question of whether these is much difference, or much more protection, than just having you (presumably a Mass. resident) be the member of the RI partnership LLC straight-out rather than having your MA LLC be the member.Also, depending on what else you have going on in your MA LLC it may be a disadvantage to have it be a member of the RI LLC from an asset protection perspective - if someone were to be able to pierce the veil of the RI LLC then everything in your MA LLC would be at risk.If you do go with the MA LLC as a member of the RI LLC, when you go to sell the property you'll have non-resident withholding - but you'd have that if you personally were the member of the RI LLC as well.You'll also need to be careful how you sign anything relating to the RI LLC - you'd have to be careful not to sign as member of the RI LLC but as member of your MA LLC, member of the RI LLC.

Thanks everyone who contributes to BP, I've been reading a lot of posts and obtaining some vital knowledge!