Response to #1: Some lenders allow for layered entities while others want warm bodies/natural persons to be direct managers.

I'm an experienced entrepreneur, but new to real estate investing (no deals under my belt yet apart from my own home).

I invested in 7 syndication funds in 2023 as a limited partner with the expectation that I would generate first year losses from cost segregation that I could use to offset my gains on my personal real estate investments (self storage). 

Don't hesitate to seek advice from experienced investors or professionals in the field.

No there is still one person living there right now. 

Typically that's the roll of a business broker vs real estate agent, although sometimes one person does both.   

Hoping to start flipping homes personally as well! 

My first two properties are still in my personal name and I actually need to switch that up finally, so thank for the reminder.Nonetheless, you can definitely still open up an LLC, I just try to avoid putting the cart before the horse.   

You may know this already, but out-of-state investors are also sometimes surprised by Texas’ “high” property tax rate (but no personal income tax).  

However, the value of your labor generally cannot be included in the cost basis for depreciation purposes.Accelerated Depreciation: A cost segregation study would identify components of your property that can be depreciated over shorter periods, such as personal property and land improvements.