After listening to podcasts, I understand that there’s some kind of limit to what I can do to update a SFH in a residentially zoned area.  

@Mark Oliver,So you want to grow, but you're limited on cash. 

For reasons cited above, renting out an illegal (without city approval) unit in the basement with physical limitations, such as poor fire egress, is a fast way to the poor house, when you lose the property to fire, or the jail, if someone is injured or dies. 

The safeguards and limits exists because it is THEIR money you have in your custody.

I limited only by zip code and available mailing address for owners. 

The money partner is either a lender or a limited partners.

If you only invest where you physically live, you are limiting yourself significantly.

Obviously, the issue there is that my options are a lot more limited given the cost of buying in/near the city, but I know it's doable.

One of our mentors explained that all the LLC will do is limit what you have exposed. 

@Lionel Mosby JrThis has been discussed several times before somewhat recently, but I can't find the threads right now..First, most I believe use LLC's for the limited liability.