I know, I was one of them, - To my benefit I can say I was one of the cautious ones who did do their homework, and thus landed up buying in relatively good areas.Having said that, and even with the knowledge that I probably overpaid for my first two properties,  I am still getting a good return and have gone on to buy more properties in Detroit.Like anywhere (and in Detroit more so than other place) it is really all about the people you are working with on the ground, and the local knowledge you have or have access to.

Just finished one last month in San Bern.You'd really get great benefit by studying CA real estate title, then probate.

Others will benefit greatly from this. 

-I've heard that the tax benefits make it worthwhile and that i can run a number of expenses related to my property through the LLC as tax deductions (phone bills, miles, etc).2.

I have the benefit of living here so can't beat it.

Id like me and one of my business partners to have email address's that reflect our business name as I believe for the low cost involved that the benefit of seeming more professional than we perhaps are is well worth it.

I do see the many liabilities that out way the benefit and I will definitely try to complete regular inspections in the future. 

And you get the benefit of having over 100 past ones to catch up on.Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

I don't know that you wouldn't be better off buying quads getting 30 year money on them for a good interest rate.The benefit for larger properties 5 + really starts happening in the mid double digits in units for scale.If the broker is spending time with you then you should commit to that broker.

You'll find lots of threads on here about the benefits/cons of having a license.