Each designated LLC has its own governing documents establishing its members, managers, and membership interests.

I work with agents because of their expertise in their markets, and yes a little help in analysis but you must establishes your habitat as an investor. 

With condos, the entry point is often lower, but the condo fees add a lot to the expenses. 

If you want to be in it for the long haul, start establishing those relationships now so you create repeat business and a strong referral network. 

You need two years of established income in a commission based vocation to qualify the income for pre-approval, so my generous uncle graciously co-signed for us on the loan.

They also have the right to screen potential tenants and establish their own rules and regulations, such as pet policies and late fees.

It helps a lot to know what other people have felt (and learned) along the way so thank you for sharing that information. :)My goal is to create a secondary source of income that could (if the case every arrived) replace a job; that said, this is less out of necessity and more for financial peace of mind.

Would you benefit greater from establishing a new connection with another lender/broker partner who can possibly give you another lead in your area in the future2.

I’ll likely spend a few weeks down that way early Jan to better understand the local market, neighborhoods, and establish a network.

I think I'd like a duplex/tri/quad or maybe another STR in the Phx metro area or it could be a LTR.I listen to A LOT of podcasts and it's a lot to take in.