Use your cash for the purchase and rehab, force appreciation, and finance out of the property to maintain your working capital.  

However I think its ok for those that have a little money put away and can maintain the payments.

If you are in no rush, than I agree an appriciation approach is a good option (Although some cash flow is important to help in maintaining the property).

As a property management team. we maintain a list of breeds that we do not allow at our rental properties due to insurance liability. 

I will say that I find it necessary to listen to the podcasts not only to educate myself, but to also maintain motivation.

Would the costs of maintaining and getting the license up front be worth it if I am not going to actively use it?  

Now you have to pay another fee, to own, use, lease, license, permit, grant, or manage/maintain-- your OWN Drive to your OWN house.   

If you do decide to rent it out, sell within 36 months to at least maintain a portion of the tax exclusion.  

As far as Society Hill, it's a very big development, so lots of neighbors and kids, but the area is more commercial, not really nearby anything other than some big box stores and a few restaurants in strip centers, but it is safe, family oriented, parking spots for every home, and they're really nice inside and well maintained common areas.

In some states owning an LLC is expensive and/or the reporting is onerous and in others it is inexpensive and/or simple to set up and maintain.3.