He then started telling me alllllll the paperwork that I would need to provide from the LLC -- you know, articles of incorporation, etc. and asking do I know how to gather up all that stuff. 

This is a fantastic article.

Now I get the picture. and understand what the 6% value is and why it was quoted in the article I read.SC, I assume then will not tax me on the LTCG and allow me to show the GA Tax paid.I have some other net losses on Rental properties in GA, that SC does not allow, but I guess they can offset the LTCG in coming up with GA income that is taxable in GA and hence what % tax is due. 

@Sidney Qiu If you are going follow Chad's advise and look at more passive forms of REI, such as notes/private lending you might find it useful to read a blog article I wrote here on BP about a year ago Three Key Routes for Passive Real Estate Investing

Articles like this always disappoint me by not adequately addressing the problem of housing and by saying such faulty generalizations from anonymous sources as: "Some say all the “buy and hold” investors are squeezing out the average home shopper".  

Thanks for this article link @Chris Pasternak.  

Check out 2 articles about raising money that I wrote: https://www.biggerpockets.com/blogs/10145/72118-sy...andhttps://www.biggerpockets.com/blogs/10145/73373-op...

I remember reading an article you wrote which indicated under 7 days and no substantial services then it'll still be schedule C but not subject to SE tax.

I couldn't find the exact study, but found a PRNewswire article on it.

Check out this excerpt from one article that I recently posted!