This includes the vast majority of residential landlords who own their rental property as sole proprietors (who individually own their properties), limited liability companies (LLCs), and partnerships.

With out all the competition in the metro area, Absentee Owners could be a pretty good bet since you won't run into as many investors mailing to them. 

I'd be a little more worried about the 2.7x rent.  3-3.5x rent is the safer bet.  4 dependents on one salary is also a big red flag. 

If you didn't over-pay for the house and he didn't charge you closing fees I'd just adhere to w.e he says....Your best bet is to post on Avvo and see what the lawyers say (its free).

The months for building are limited.

I bet the big ones go every month.

I have two questions.1)  How do I maintain limited liability on rentals if they are in my personal name?  

Your best bet is to first gain an understanding of the market by taking a sample set of similar properties and determining how the different features impacted the overall value of each property.

It may limit you on you choices of where of the type of place you want to live depending on the market.Sfh and townhomes also give you a great opportunity to learn to be a landlord without having tenants knocking on you door.

., it is not your career), the federal government places a limitation on how much of your passive loss from an investment on something such as real estate can be deducted against your ordinary income.