They can help you to have realistic expectations on rent rates in the area, especially if you're planning on have a PM manage the property.

For me, I prefer to physically visit the different neighborhoods in the area that I plan to buy in as well as look at online crime & census tools (employment, pop. growth) 

We own a bar and are planning to start investing in real estate.

Who can tell you the appreciating improving areas, the declining, what area has city investment and improvement projects planned.

I'm planning to do a renovation on a 3-4 unit property using a 203k loan which I hear some contractors don't prefer because payment from the bank can be delayed.

If possible it's definitely worth visiting the market you plan to invest in so you can start to build relationships and familiarize yourself with the area.

There are plans to improve both water fronts.    

But, at least there is time for you to have some plan B moves and still own the property, because when the lender calls a note due, it doesn't happen over night.

No matter where you live or where you own assets, I personally recommend the Series LLC to be a great tool for the individual investor who is planning to expand their operation, as it allows for you to scale infinitely for FREE.

I understand LP is preferred over LLC due to avoiding double taxation, but if I plan to stay in the US and keep the money in the US, do I still form a LP?