I have personally thought about doing this, setting up a C-Corp with my family to act as a board of directors, and own each new investment property as a separate LLC, it sounds good and probably works well but lets talk about some other concerns.Firstly while most lawyers myself included could probably help you navigate those 3 points above, if you are seriously considering the umbrella company strategy I think it would be prudent to search out a skilled asset protection firm.

I'm a novice to the real estate investment industry but I am eager to us what I have learned thus far to begin purchasing single family homes and using these homes as rental properties.  

Good advice both @Tony Castronovo and @Vijaianand ThirnageswaramSaying that....if you have any recommended contractors in Houston - do let me know :) Agree with the comment where you have to have some "synergy" but I am still a firm believer in recommendations from other investors.

Our CPA firm is peer reviewed and performs just such audits.These limitations are for purposes of determining whether particular expenses qualify under the safe harbor; they aren't intended as a ceiling on the amount you can deduct as business expenses under the IRC.The de minimis safe harbor election does not include amounts paid for inventory and land, neither of whch were in the writer's original questions.

@Amy Greger - My firm may be able to help you out.  

You disclose your broker/agent and firm status and a full release of liability with disclosure.

Thank you @Geoffrey SchnakeYea, I was thinking about Holland & Knight but they are a very big firm (Tier 1) in the country. 

I am eager to soak up any information your willing to pass on!

.- Be very relaxed about things that don't matter and VERY FIRM with things that do matter:  I have a 0 tolerance policy for parties, loud noise past 12 pm. etc.  

Hi BP members,My name is Carl Streck and I'm CEO of a commercial appraisal management firm.