You still may be liable for NC depending on how and where the income is being produced, a good tax prepared has ways. http://www.borelassociates.com/topics/Series_LLC_in_Business_Planning.pdf http://www.matnsorensen.com/utilizing-multiple-llcs-a-new-series-llc-state/ LLC is new to REI it will be interesting to watch history unfold, not here on BP, in courts across the country.

Your phone will ring off the hook with people trying to sell you spots on radio, tv, paper, and online. 

Just ask the question on the forums and watch it blow up!!

I wish my tenants would all pay a years rent when they get 5-6,000 in a tax refund, instead of blowing it on a buy here pay here car down payment.or a 60" TV

Happens all the time.You need to watch out for PUFFING by banks.

I highly recommend watching them.

https://www.youtube.com/watch?

"What am I going to do, sit at home and watch novelas (soap operas)?"  

Here's a link to the first session.https://www.youtube.com/watch?

Newer 4 plex units can be had for $325k to $350k (but go fast) so you would not hit the 1% rule and you have to watch the HOA fees if you bought into a multi building complex.