@Jim Froehlich The whole mantra of "find a good deal and the money will follow" is either said by newbies (because they read something online) or gurus who want you to pony up the cash to buy their program. 

Given that you are brandy new, I don't suggest this as a first project, because it's almost a guarantee that you will do one (or more) of the following:1. 

ARV concerns me the most followed by monthly holding cost if I can't sell within 6 months. 

To follow up on Anthony Thompson, likewise, I am not an attorney.  

I'm having a hard time following exactly what your question is, but I'll try. 

To be an LLC, it has to follow best practices and be treated like an LLC.

If you are in the very beginning of this, I would highly recommend hashing out the items listed above and then become OBSESSED with learning as much as you can, networking, and following your curiosity to something that has a lot of interest.It looks like you may have interest in flipping, so if you have anyone in your network that does real estate and may have the skinny on certain areas, it may be worth it to focus on that area as you begin gaining experience.

Taxes are filed monthly by 20th of the following month (example: May is due by June 20).

If not, DON'T RENT TO THEM, they do not follow instructions. 26.

Generally rents appreciation follows property appreciation.