But for those that are a little ways down the road, is there any advice on how they wish they would have structured themselves a little better at the outset? 

Worst case scenario is 6 months down the road you evict for some reason or the tenant moves out for some reason, a judge could make you give the unused months back and if you've spent it... it's coming out of your pocket.

Down the road, I plan on doing a vacation home in the Tahoe region (as it is close enough to self-manage).

However, at the end of the day, you need to decide what will work best for you personally and where do you see yourself 5-10 years down the road.

If I had to throw EARLY money somewhere in the Huntsvegas metro, it would be Madison, and more specifically between wall Triana, and Zierdt roads.

If the house or location is awesome and that is the appeal, then condition will not be as much of a factor down the road.

That is not to say disregard it, rather this a bump in the road not a mountain to climb.  

Hi all...I've been down that familiar road too. 

Multi Family seems to create a bumpy road, especially for those hoping to use FHA - good luck to you!!

Don't just get stuck in the real estate finance ditch, learn the road and you can use any lane you need!