Finally free, I vowed to never own another rental property again after the experience.Fast forward to early this spring (2016); I had the good fortune of borrow a little known book titled, "Rich Dad, Poor Dad," from my good friend and proceeded to realize all of the things I had been doing wrong and how my financial philosophy was in need of some major retuning.

From a high-level that process is: - know your goal and reason why - know the terminology - know how to run the #s - know how to find the good market and submarkets - build a brand - find team members - find investors - find deal - do right due diligence on deal -  close and do asset mgmt Investing in someone else's deal will be a little helpful just to see the process but I think the better approach would be to align yourself with the right people to help you work through the process I outlined above. 

My goal is to build cash flow, pay off debt and be financially comfortable.

Inevitably, there are times when you will "house rich and cash poor", which is often a great time to bring in a partner's financial resources. 

Sometimes financial institutions will stamp it on the Note rather than providing the document.

I see a lot of owners trying to overvalue their properties to out of town owners and wouldn't be surprised if the "C+" asset class was quite the stretch.

They should be able to guide you on the best plan suited for your financial and legal situation.My recommendation would be to NOT put each property in a separate LLC.

The longer you hold it, the less valuable that gain becomes.Either way, I think having that large of an asset it pretty cool, so good luck with it!

The advantage of adding another tenant is that it is another person financially responsible for rent that you can chase later if needed.  

Like most members on here, I am have a passion for the industry but mostly importantly, I am looking for financial freedom.