If your state is an expensive one it might be cost prohibitive to have an LLC for a small rental business.

Not incredible, but fine.An out of state flip or flipping business, handled completely remotely? 

So yes, it's about knowing your business and being very specialized. 

Hi @Nancy Cho happy to connect and talk business.

I took two business law courses in college. 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Here are my two cents...I recommend starting in a market with strong fundamentals, such as steady population growth, an influx of major corporations or large businesses relocating to the area, an affordable cost of living, and high rental demand.

I would be leveraging my relationship with my family member to wholesale the property for experience and getting them for investment in my real estate business while my family member gets rid of a property, hassle free, while getting paid.

Self management works if you are local and can separate emotion from business.

I am here to create a business strategy that protects personal and business investments and mitigates risk,  procure a coach or mentor, and set up tax strategies to create long-term wealth for myself and my family.