I have a very similar situation I am currently in, and was just asking around Bigger Pockets for advice.

Does bigger pockets have a parking lot deal calculator?

I'm not sure I'll be doing that, I haven't seen a real value in it yet.I am a new subscriber to the Bigger Pockets podcast but my first exposure to real estate investing podcasts was the Old Dawgs REI podcast. 

So you'll need your LLC to have bank accounts, check books, address, everything.Or you can just keep it in your name and get an umbrella insurance policy.Also, if you do not have a ton of equity in your property, then you have very little for someone to sue you for... 

All I had about $40K to my name and spent a good deal of time looking at properties, reading blogs, browsing Bigger Pockets, attending seminars.

Hey bigger pockets, What was the hardest lesson you had to learn when you started your journey into the real estate world?

I love bigger pockets podcasts and the forums.

Bigger Pockets is a great place to start for real estate investing, and it is the place to get deals done the right way!

@Caryn CasarezCorrect that your spouse would also fall under the disqualified party umbrella. 

I was thinking about something I heard on the BP podcast once about starting out doing bigger deals so that the natural exponential growth of my business would grow off a much larger base.