To get technical, you will be going up against the Economic Substance Doctrine which states that a transaction has economic substance if: (1) the transaction changes in a meaningful way (apart from Federal income tax effects) the taxpayer’s economic position; and (2) the taxpayer has a substantial purpose (apart from Federal income tax effects) for entering into such transaction.By transferring your primary residence into a LLC, you would not be changing your economic position.

If you don't have the reserve funds going into a investment property you are not in a position to invest. 

Positive cash flow, or appreciation? 

Best of luck and remain positive. 

What are some of the positives and negatives of doing so?

I typically walk away from a Lease Option agreement with $10k to $20k and a positive cashflow of $300 to $500 per month.

If such is the case I say offer away if you are positive you can actually close ( have the money or the actual ability to get it ASAP ) if everything is right.

Pooh looked at the positives of the moment - "People say nothing is impossible, but I do it every day".I'm a Pooh. 

Also, with vertical blinds a lot of tenants don’t understand that the blinds need to be in the open position first before bringing the whole stack to one side.

Been reading numerous personal finance books and lurking BP for a few months now, but the savings are finally shaping up, so I've decided to take it more seriously :) I'm a recent college grad from the bay area who's been in industry for about 1-2 years now and I'm really interested in setting up a positive, reliable cashflow for myself to reach financial independence.