Read The Millionaire Next Doorhttps://www.amazon.com/Thomas-J-Stanley/e/B000APC2MY/ref=dp_byline_cont_book_1How to Finance any property https://www.amazon.com/gp/product/0757001351My favorite way is to go to REIA MeetingsSee https://www.biggerpockets.com/rei/real-estate-clubs/Ask the organizer if you can make a 30 second commercialSay "I am looking for 2 - 3 private investors, I pay 9% in 90 days, I do rehabs, you get Real Estate Security with a note, you get 9 x 4 or 36% return, and you can use your IRA money! 

Then wait until the dust starts to settle a little bit before buying (maybe 12 months) Your profit or secure position is determined with a excellent purchase in real estate more than anything.

I have been researching corporate structures and am getting some conflicting information.A tax adviser is suggesting that I setup an LLC in Wyoming, with a trust as the owner, and with me as the sole beneficiary of the trust.I read several articles that say I may have to register the LLC as a foreign entity in my state, New Jersey, because I would still be "transacting" in in my home state.I read some exemptions on what constitutes doing business though:(7) creating or acquiring indebtedness, mortgages, or security interests in real or personal property;(8) securing or collecting debts or enforcing mortgages or other security interests in property securing the debts and holding, protecting, or maintaining property so acquired;I'm trying to figure out what the bolded section means as far as owning income producing real estate, it looks like it may be exempt?

Because i  know that some of them still have job, some r getting paid as a care giver, or some already was on disability or social security. for those income is  not hurt because of COVID19.

If you pay into Social security for yourself, you also pay into the Unemployment tax system for yourself.

Where do I deduct the mortgage interest, on the original property used to secure the loan? 

Background/credit check, income verification, talk to their last two landlords, talk to their boss, move-in inspection, security deposit, etc!

Maintenance fees are usually really high in HI and this one was reasonable at $650/mo with a pool, prime location, and 24hr security.

We are securing with loan at end... 

Because you likely won't be able to secure another FHA loan after your first purchase, starting with a bigger, more expensive property might be smarter, assuming that you don't have unlimited cash reserves.