He's here this weekend for actually two days: Friday p.m. from 3 to 6 he'll be talking about using QuickBooks in your REI business and Saturday from 9am to 5pm he'll be talking about building your entity structures for tax advantage, asset protection and estate planning, including how to pay your minor children without also having to pay SUTA, FUTA, FICA, etc. for them.I can't do this justice not being a legal / financial professional, but from what I remember, you DO NOT WANT to pay them out of an S-Corp or an LLC.

Equity in a deal is important as well, so they will look at that across your portfolio potentially if you are using your other buildings to show income or use them as collateral. 

Purchase a multi unit building, managed by a management company. 

I am in the process of creating 2 generic templates for the purpose of “having back of the napkin, Underwriting early in deals”. 1 will be ground up Development and 1 will be redeveloping existing buildings.

I am licensed real estate agent but concentrated on investing and building a lead generation business.

Hi Tom, a few items on your journey to possibly purchase the building.

You will need to insure the building improvements and you will want general liability coverage.

You'll also need to start building a credit history. 

What will be displaced when they build - does it need to be replaced?

As far as long term, building up a portfolio of cash flowing assets is an excellent path to financial freedom.