As you know, becoming a real estate agent is basically starting another business.

Yes you will also need your certificate of formation, operating agreement, franchise tax info(if applicable in IL)-basically just bring the company book with you.

Articles like this send my brain into overdrive thinking of all the potential for multi family build to hold, basic prefab homes to fill an affordable housing gap, and other projects a market like this could support.

It might even work after the purchase (basically your insurer goes after the previous insurer).2.

@Deforrest FergusonThey are basically the same. 

If I increase the rent by 10% starting November 1, it basically gives them 70+ days to decide whether to stay or to move out.

Here are some basic pros and cons:Pros:Your capital often goes much much further in other markets, esp if you live in CA, NY, HI, or the Seattle/Tacoma area Getting comfortable with OOS investing really opens you up to greater diversification of your REI portfolio as you build it.

And if I do this, then the LLC wouldn't hold any properties I assume and just basically be a management company, I think. 

I think basically the deal with ABQ is that there is very little growth and very little new inventory coming online, which means on the one hand you are protected from rising vacancy but on the other investment RE is expensive for what it is, as no new inventory comes online to push down prices. 

You can also seek out a 'Qualified Opportunity Fund' which is basically a syndication with the underlying asset being in one of these zones.