House hacking will also give you some personal "property management" experience.

We have a person on board with a degree in design, so we usually tweak the floor plans for sight lines and function.

I'm further assuming that both your personal home, and the property, are both in Lancaster County. 

Make sure to ask the bank if they will report the business card to your personal credit report. 

Hey Anthony, I am a Real Estate Agent and investor based in Columbus and personally grew up in Cleveland .

I have not done too many deals in your market, and I anticipate things are nuanced depending on the property type and condition and based on the personality of the owner....BUT it is common and customary in my world, which is usually retail/med office, for tenants to have at least some time of free rent during the buildout.We usually structure things as follows, and you can change the number of days around but this is traditionally what we at least shoot for when we have a tenant we are repping.- Lease commencement date is to be the 6/1/24 or when the landlord's work is complete. and we traditionally have penalties in place if the LL's work takes too long and pushes us past our initial timeline.- then we typically have "rent commencement" or when you start paying rent, to be the earlier of either 180 days following lease commencement or when you are open for business.  

I was wondering what everyone's experience with establishing a legal entity for REI has been like, and when do you recommend a person to do so?

It's hard for anyone to give advice on such a personal decision, but I'm almost always in the position of never selling.

If you want a better output you can always add more details.Potential Improvements:You could specify the types of properties (residential, commercial, etc.) or the size and diversity of your portfolio to receive more tailored advice.You could provide information about your company's specific objectives or values for a more aligned recommendation.If you have preferences for how you'd like the scoring or rating system to be (numerical, grade-based, color-coded, etc.), that could be included.If you have had previous experiences with property managers that you found particularly beneficial or problematic, including those could provide context and help tailor the advice more specifically to your needs.If there are particular areas you are concerned about (legal issues, maintenance, tenant relations, etc.), emphasizing these could provide more detailed and relevant advice.

@Pradeep Roy both are great markets but I prefer the Memphis because it's a more robust economy and there's a higher probability for appreciation.