It might have worked in their generation but certainly not today or the future... if you haven't, suggest you read:Kiyosaki's Rich Dad Poor Dad or listen to the audioRobert Frost poem "The Road not taken"We are working with Kiyosakis I/Investor quadrant(let your money work for you, not you work for your money) as opposed to the E/Employee, S/self employed, B/business owner quadrants-the rat race quadrants of you work/slave for your money.My parents couldn't guide me in this space since they came from the Poor Dad syndrome - go to school and get a job/journey of the broke and the rat race like the majority population.  

The refusal to invest in myself and my family's future was one of the biggest mistakes I have made in my life and the reason I was trapped in the rat race for so long.

Interviews for larger properties, while possible, get pretty cumbersome but you can selectively interview based on unit condition, payment history, potential to renew for leases near their end, or other VALID reason for singling them out (race, national origin, etc. are never valid).  

@Michael EalyWhile I’m interested in what you have to say, my initial response is we are all running our own race.

I hire people of all race, and some of them have not taken a shower this year, but as long as they can do the job, I do not discrimination.

Plus it would be nice to leave the rat race sooner than the typical retirement age!

I imagine I could have been off to the races like you had I known the value of a dollar in my younger years.

Get food-grade DE, (DIATOMACEOUS EARTH) from your local horse food store.

But I am lucky to qualify for a conventional loan, which seems to complicate things with the LLC.Absolutely plan to get all possible insurance.Hey DanWe may be beating a dead horse here, but there are a couple of things you may need clarified.Transferring to an LLC that you're a sole member is an exempt transfer, so allowable, and shouldn't trigger the due on sale clause. 

They are more concerned with the return of their money than on their money.You can also get into some deep legal issues soliciting private money, as investors or lenders, your pitch can violate security laws, which is pretty much why you need to be acquainted with people and approach them carefully, one on one.Your HUD property isn't one you can take down as a deal without financing lined up, you have the cart before horse.