The complicated part comes in figuring out if that outweighs the tax deferred or tax free growth of the retirement accounts. 

It sounds interesting but is this deal easy or complicated to do .

A good mortgage lender will line you up to succeed regardless of how complicated the situation is.

Its not impossible, just complicated and expensive.  

I was just trying to state the fact that it doesn't have to be over complicated in regards to tracking rental income

This could potentially lower your overall tax liability, but may make things slightly more complicated from an administrative perspective. 

my personal belief is the asset protection across state lines is over rated. until you get big and you are a target with many millions at risk your best action is good insurance, the out of state stuff is pretty complicated and expensive for a small investor,  best practices, and good insurance should always be your first line of defense, then the LLC firewall, and last the out of state LLC, the out of state LLC does not offer added protection, just more hurdles for someone to jump to find you, setting up a Nevada or Wyoming LLC as the parent LLC forces someone that want to sue to also serve you in that state, and petition the court for who the owner of that LLC is.

I would say my practice is very similar to yours, albeit not quite as complicated.

Getting your real estate license (assuming just a salesperson and not knowing your state law) is a complicated question.For starters as only a salesperson most states require you to work under a brokerage. to gain any of the benefits of the license.

How do you decide how much rent to charge and it is very complicated to get started doing this?