Not anything I can elaborate on but suffice to say that our tenant loving socialist government has made it necessary to operate under the radar and not rely on the legal system to support our business.

Don't buy in the roughest neighborhood in the urban core.

Until that time comes we will cash flow $1,620 a month after all operating expenses and interest payments on our private loan are paid.

Be friendly but not so close to your tenants that it interferes with your business operations.

I personally find the Series LLC to be a great tool for the individual investor who is planning to expand their operation, as it allows for you to scale infinitely - check out this article to learn more.

You are operating a business not a homeless shelter.A pay or quit notice should always be issued the day after rent is due, normally on the second of the month.

I do not operate that way and try to only maintain the best tenants in regards to payment.

This is your capital investment, you do get the deduct the capital investment but over 27.5 years for the residential rental property via depreciation. 3) The operation of the business will generate you a loss, and that loss will offset your rental income.

As a PM, you could handle the day-to-day operations and the partner could play role of silent partner, financier or whatnot?     

Consult an attorney to draft the operating agreement of your LLC.