From a planning perspective, taking IRA distributions now if the 10% early distribution penalty can be avoided and investing those funds in life insurance may be in order. 

I guess I am wondering how most of these partnerships work for a fresh beginner.  

not to sound like a crunchy granola here ...my three favorite tenants have been fresh out of college and employed but other landlords didn't want to take a chance with them.

But, look at that scenario with fresh eyes, ie: would you or a potential real estate invester purchase this specific house with ADU at the current/expected future market price?

I think having a long walk to reset the breaker is a good thing from the landlord's and safety perspective.

@Long LamWhile the checkbook IRA is a good option, it is not necessary from a creditor protection perspective since IRAs are already afforded full creditor protection in the state of Texas.

Our new tenants are clean and awesome- we have through wired smoke and carbon monoxide and when an inspector or potential tenant walks in it is fresh, clean and beautiful.

Miss just one requirement and you'll need to get your checkbook ready because you can bet your insurance company will crawfish on any lawsuit since you didn't follow the statutes regarding safety.Other:  You're likely looking at it the pool from an enjoyment perspective as if you're going to live in it but unless you've owned a home with pool, you have no idea of the expense.

I have a small farm outside of town for the weekends and another property to develop on top of a mountain with endless, fresh water running out of the top of the mountain.

From the bank's perspective you titling the house is an LLC's name is the same as titling the house in your sister's name.So from that standpoint; Yes, i have heard and see other people do that and yes, I only heard of one who was caught by the bank and they had to refinance in like 30 or 60 days.