Please share your experience, the good and the bad!

First Bank is a portfolio lender that could be another option but they'll likely place you in an ARM (which isn't bad if you're planning on refinancing after a year or two anyway). 

This means we essentially lose a month's rent (August) by the time that they inspect, make their offer and approve the deal (if they do at all).This is obviously a big disincentive for us as landlords and a bad situation for voucher holders as well.I was wondering how others are handling this gap?

Our LLC was set up in Nevada (bad advice from a Podcast). 

However, per section 1402,  just because a rental activity is treated as a trade or business for passive activity purposes does not automatically mean it is subject to self-employment taxes.

Use the BP calculators to start getting familiar with analyzing deals which is probably the most important thing to master to not get in on a bad deal.

I don't think smaller necessarily means easier, based on my experience with the Triplex.On partnering with experienced person is not a bad idea, make sure to cover your expectations on Exit...when you expect to sell when does your partner.

Example of a bad answer: I can teach you about project management. 

I feel the loss of earnest money is a cost that will save me many thousands of dollars in vacancies/repairs etc of a bad investment.My goals:I would like to replace my current income stream in the next 2-3 years.

Ventnor and Atlantic City are getting hotter but it was a bad scene after 2008 and 2012 hurricane sandy.