@Marco Jimenez, I'm incredibly jealous that you're starting so early!

You could try to do some creative financing with the seller (seller financing, lease option, subject to, etc), but those are typically much harder to accomplish. 

For instance, the Standard Real Estate Contract that Real Estate Agents typically use in NJ is NOT assignable, as there is a section that specifically states that.

To explain my parents situation, they tried investing in rentals but soon, became the frustrated landlords that you always hear about on the podcast, making all the typical mistakes, to their eventual forbearance of their real estate investing goals. 

That is a typical response.  

Now I do no section 8 and typically have good tenants, but still a few bad apples. 

Not sure about Tennessee because all states are different, however, you typically do not need to be licensed to manage your own property, only other people's property.

Not only are you creating a lot more work for yourself but you’ll also need to pay to open and maintain those LLCs to your state and CPAs will typically charge extra for an entity tax return.

And if the report has issues you can see if your seller with A) Repair or B) give credits/agree on an even lower price for the property.Realtors don't typically find me deals - I find the deals, run the numbers, etc.

Obviously it is preferred to have it in a LLC but a typical residential conventional loan will not allow an LLC to be on loan documents and sign at closing, correct?