Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsGood luck on everything!

Setting aside a percentage of the rent for capex and repairs sounds like a good idea, and for some it is a good idea. 

I would like to set up a meeting a Motorworks Brewing or something similar. 

Hi Keenan,I'd be happy to set-up a time to speak if you're interested in learning more about our company - Chroma Property Management.

If that is the case, you just need to get a plan set up that will allow you to do that and you can use checkbook control to invest in real estate or other alternatives.  

Other than setting up a domestic and foreign LLC due to properties being in different states, transferring the deeds, and opening business bank accounts (and funding), what else needs to be done?

They are setting the tone for future transactions.

@Ko Kashiwagi Awesome..my target area would be Largo, Seminole, St Pete and Tampa though (not Gainesville) from 400 to 700 K as of now SFH

If you change it you may want to have an attorney look at your changes.I use zillow or apartments.com to accept applications, both offer services to run credit and do background checks.For screening you need to set your criteria before you start advertising.I recommend reading a book on landlording, my favorite is "Landlording on Autopilot".

I would prefer to make a business plan to target a small grocery store property.