I ive 55 miles away, but will screen and do background checks for my own tenants by phone/online and visit 1-2X a month.

I worked with some investors and, in fact, most of them started out by taking online courses (which could often be costly).

You can apply for an EIN online at no cost.

I have worked with a few of them; although their LLC status is pretty much irrelevant in the accounting side.Talk to a reputable attorney on the matter; however, as Bill Gulley said Insurance is your best bet starting out and equally important as time goes on.

Your only salvation might be owning a particular phase of the project that might be peeled away by lenders, but don't bet on it as the problems arise through the HOA of the PUD, if it is a PUD.As to slick thinking circumventing lending regulations....with multiple entities....bad idea.

It would be my guess that on average most people dealing in RE, I know it is for sure with agents, do very poorly.The answer is something you will have to learn on your own and it will depend entirely on your effectiveness, which is a result of your efforts, time spent, and abilities, combined with your resources.This is area specific so your best bet would be to find people in your area and figure out what is going on with them.

Commonly used are online resources like zillow, trulia and my personal favorite ******************* (one word) websites.

Upon looking at the online deed records, I discovered she only bought this place 2 months ago and is already selling. 4.

IMHO, your best bet is to buy some place that needs a fair bit of work.

I'll bet that under the circumstances they will continue the assistance on a probationary basis and if the kid is found guilty, they can revisit the situation.