Single family homes are averaging $1900 a month.

So, gain allocated to personal portion will be shielded with sec 121  ( 250k -if single) and gain allocated to rental portion can be invested into other investment property with section 1031 like-kind exchange.  

I want to form a Single Member LLC. 

Generally speaking though if you're not in a NYC/Boston/LA/San Francisco market then you should be looking to clear between $100-200 on a single family home after covering all of your expenses.

.#5 11unit single family compound (9 small 2/1 and 1/1s, two of which are duplexes) with a 10 unit storage building and 1 extra lot for a possible RV rental.

@Casey Miles - Here is a brief overview from the NC Bar of the Landlord/Tenant Law in NC.

The median price for a single-family home in Austin sold in May was $389,000, which was up 3.7% year-over-year.

Print out EVERY single email correspondence regarding this transaction, both received and sent, immediately so you have a hard copy.  2. 

I am looking to getting into Rental Properties for Single Family homes.

I currently work in Market Research, and am interested in investing in single family/small multi-family (2-4 unit) rentals in the area (close enough that I can hopefully manage them myself).