Mistakes aren’t impossible – but the taxing authorities are usually pretty good at their job.

As it is right now, it is not a good deal for anyone. 

Afterwards, they become a great resource for referrals to other first time buyers because you did such a good job educating and not giving up on them like many other Realtors do.Or get together with Lenders and create first time home buyer classes.

On a town house, I'd rather have good insurance than an LLC!

Sometimes there are wholesalers who are VERY good with tenants who can manage one property for you and maybe more.

There are some connectivity issues with it, but overall a good product.

If it is temperate climate maybe it would be good to go without ceiling fans. 

It's good to know that its still possible to self-manage and thus qualify as an active business for tax purposes.  

Properties, for novices, which look good on paper and have good cash flow usually come with C to D+ areas, risky tenants, and a lot of cap ex that you can't see on the internet (basements, roofs, water issues, outdated mechanicals).You are turning a terrible loss into a springboard which is great, but you are trying to move too quickly it sounds like.

You'll never have all the perfect information and it's good to have a healthy fear to force due diligence.