First post here but I've been incredibly impressed by the level of knowledge and sophistication of the community.   

Because of my use of property managers, don't need to track most property expenses in any sophisticated way.  

there some raising money laws out there...REG D maybe....and it does allow for you to raise money from a few non accredited investors...but i would stay away from doing this as you can get into some issues if the property goes south and it could be an issue as non accredited investors are not seen as sophisticated by IRS standards.  

Please bear with me as this might not sound particularly sophisticated...I want to make offers on houses!

My recommendation is that once you have chosen the market you’re going to be investing in, then use the air DNA data to do a deep dive  The Rentalyzer is pretty awesome in theory, but it isn’t sophisticated enough to detect things like “this property is waterfront; this one isn’t”.

The one I have is good for a quick analysis but I probably need a more detailed and sophisticated one once I do a quick analysis and determine its diving into deeper.

@Cornelius Garland - Thanks for the very informative post.We too removed any owners that were businesses and LLCs as we did not want to deal with any "more sophisticated" investors. 

Not very many people do count these and not many sellers or listing agents care.Good question but that market isn't a particularly sophisticated one due to the number of owner occupants and inexperienced realtors giving bad advice.  

The "big deals" right now are selling at a premium and all of the players seem to be fairly sophisticated these days.

When you are more sophisticated, then look into an LLC, but not when you are first starting out.