There are always going to be people that like older units with more character, established neighborhood, and no new construction going on next door.

If you can also, then a $15K down payment is a significant chunk and should satisfy the seller you're not about to walk away.If you can negotiate at least a 2 year note with the seller, then hopefully you are able to get a job after graduating college and can show a bank the property's rental income history as well as your salary and at that point you stand a good chance of getting a bank mortgage.Keep in mind that establishing a good credit history starting now is critical.  

I learned a lot from that one visit and I was able to establish a solid "Step 1."

Hello all, I have established my self in the law enforcement field and now I'm ready to partake in my next journey.

I'm an established Investor & RE Investing Coach, currently investing near Ogden.

We didn't start out that way years ago, but its not worth the risk now that we are established.  

I don't even think you need to file a return I could be wrong.Not saying that folks with no money can become successful in RE they can but it really is dependent on which market your in.I mean you take much of the rust belt and you can buy a house for 2k or 5k.. and you can turn around and sell it for 3k or 7k.. and off you go.. but if you live in high dollar areas were say the minimum price to play is 100k or 300k .. you need to get a job and make money and get your down and reserve established then go lookingBest bet for those starting out in my mind is to buy a 4 plex live in one rent the other 3 you get FHA loan you get experience to see if you like being a landlord.. ( or like me conversely you hate being a landlord and want nothing to do with rentals) but when you move on your have 4 doorsso how is that for some advice

I am thinking for asset protection to establish one llc for each property but doing that is going to cost me a lot in yearly state fees...Any thoughts of what entity to use not as costly in California?

I'm interested in networking with local investors and perhaps establishing partnership land trusts.   

We don't know your objectives nor any/all of your exposures.Since you original established an entity for some particular reason, it's really impossible to say what you will do to further complicate your situation.It would appear on the surface that you are trying yo do thus in the cheap rather than seek the professional legal and tax advice that you truly need.