If you have not run your own business beyond real estate before, I strongly recommend that you get in touch with SCORE (Service Corp of Retired Executives) at www.score.org.They are a free resource (part of SBA) that will help you to evaluate the financials of the company you're looking at buying, build a business plan and to understand what you're getting into. 

No LLC Needed: This keeps things simpler and avoids the state income tax associated with forming an LLC in Tennessee.Steps to Set Up Tenancy in Common:Purchase the Property: When you buy the property, instruct the closing agent or attorney to list both of you on the deed as tenants in common.Draft an Agreement: While it’s not legally required, it’s smart to have a written agreement detailing each partner’s responsibilities, the split of profits, and how decisions will be made.

Here is my plan and then my questions below:1) I want to buy single family homes across various states with each home having its own LLC in that particular state.2) I want these various LLCs to be owned by a Wyoming Holding LLC for anonymity.Here are my questions:a) Is it really as easy as creating a Wyoming Holding LLC online (e.g. zen business) and then creating an LLC for the homes  in the relevant state (again using zen business as an example) ?  

Do you want to buy yourself a job (fix and flip) or do you want something that is a "little" more hands off, and just want a return on your money?

The only way to do it with multifamily is to buy an uneven unit (one big and one small) and leave the small unit vacant for a year while "living" there.

I have no experience in buying or maintaining rental properties and a small savings.

My husband and I are trying to buy a home in the Houston area this November, but don’t plan to fully move there until the summer.

If you rent, start with buying a small MF and rent out the other units. 

I am hoping to begin a buy and hold real estate portfolio through house-hacking.

I am on the buy-side of a transaction with a seller that did not perform and is in breach of contract.