The reason for my interest is that my ultimate goal is to acquire and manage a large number of rental properties, and i figure that managing some third party investments could be a good source of cash flow to supplement rental income.My question is - What types of licensing is required to operate a PM company in Louisiana? 

However, these are usually very generic websites with very generic capabilities.When you need specific capabilities built into your website, it's best to hire a professional.

Cut paste, rearrange and make the lease what you want. or go to office supply and get a generic one. really it's best to have your lease and paperwork ready before you market your rental. and addendum's for crime free/ drug free,. lead, pet, security deposit should really be first priority to have set. 

If the author stashes the cash in a CD earning an inflation-adjusted 0% each year, then the reserves will be exhausted at some point well before year 30, which is fine because cash flow from the properties is meant to supplement the reserves in the long-run.

Let's set the tone straight; most people don't get into the rental business because they like to manage problematic tenants, deal with leaky toilets or attend eviction hearings.Most people follow traditional investment strategies, that are taught to be passive, but that in reality are far from passive for the great majority of investors.At the very core, most people begin in therental business because they believe in the fundamentals of investing and desire to create some level of freedom and passive income to supplement their current income, and at the same time would like to have some sort of control over their investment.There is nothing wrong with this, and i certainly wouldn’t want to discourage anyone from buying rental houses, if that’s what you really want to do.

I did the same and switched from a generic letter to professional letterhead.

Before making the investment, I conducted my due diligence, discovering interesting figures:CAP Rate: 4.144%Asset Value: $213,898.00Profit Per Unit: $184.65Year 1 Cash ROI: 44.33%Year 1 Total ROI: 62.68%Year 1 Total Cash Flow: $8,863.00Expenses: 39.38% Price Per SqFt: $55.34These numbers demonstrate passive income, supplementing my full-time salary and allowing me to save for a future down payment or assist in a real estate venture.

You can use a generic form online.

I have some LLCs now and have somewhat generic operating agreements , but as I am retired from my job and have more time , I want to set things up better. 

Most of us have that generic anonymous avatar in the webinar list.