To start with, I am not a lawyer, but I see absolutely no reason why you would need an S corp.  

My wife is a Romanian immigrant, and her brother (still in the old country) did well in Real Estate investing in Romania before the market crash in 2008.  

Two words give me pause when considering making the jump to apartment buildings -- INTEREST RATES.As a real estate lawyer, I have seen several of my clients get very, very rich buying apartments.  

Also, by forming a LLC out of state, if I understand it correctly, they have to file suit in the state where the LLC is formed.I would give that book a read & talk with a good lawyer before going much farther on this.  

Listen to his podcasts. for contracts you need to hook up with an rei lawyer.

We are new to the REI world but my husband's brother owns a small rental property and has a team of brokers and a lawyer who he works with.

The seller has hired  a lawyer to evict the tenant and promised to keep me posted.I of course don't take that promise seriously and plan on following up regularly.  

This is why there are lawyers who do nothing but tax law, if you can afford them.

I'm not a lawyer so I can't tell you if its legal or not...

We used a good securities lawyer, took on 13 investors and raised enough money to get into larger deals.