The reason for my interest is that my ultimate goal is to acquire and manage a large number of rental properties, and i figure that managing some third party investments could be a good source of cash flow to supplement rental income.My question is - What types of licensing is required to operate a PM company in Louisiana? 

A true, permitted ADU is extremely rare because they are expensive to build, the laws enabling them to be built more easily just took effect in 2019, and as both sides can be rented separately they can be held and rented as a duplex (often offering a great return) rather than sold. 

I am posting this because I want to thank Josh for creating such a valuable resource for all of us that it enabled me, in Arizona, to find an investment partner from around the world.

Each type of asset has its advantages and weaknesses, and having a mix enables the savvy investor to capitalize on each asset class's strengths and to diversify risk. 

If the author stashes the cash in a CD earning an inflation-adjusted 0% each year, then the reserves will be exhausted at some point well before year 30, which is fine because cash flow from the properties is meant to supplement the reserves in the long-run.

Let's set the tone straight; most people don't get into the rental business because they like to manage problematic tenants, deal with leaky toilets or attend eviction hearings.Most people follow traditional investment strategies, that are taught to be passive, but that in reality are far from passive for the great majority of investors.At the very core, most people begin in therental business because they believe in the fundamentals of investing and desire to create some level of freedom and passive income to supplement their current income, and at the same time would like to have some sort of control over their investment.There is nothing wrong with this, and i certainly wouldn’t want to discourage anyone from buying rental houses, if that’s what you really want to do.

Your mindset sounds perfect;  setting up the long term plan in the back of your head, while you work on the short term every day:  finding a good job that will help you to qualify for the investments that will enable the long term investment plan.  

This is if (1) the financing is conventional (2) the borrower has good credit (3) the debt coverage ratio is at least 1.2 Utilizing private financing, the borrower may be able to come to the table with as little as 10% if (1) he has experience, knowledge, and a good reputation (2) the property net income is able to service the debt (3) he can convince the seller to carry back a small second lien.There are numerous strategies and techniques out there theoretically enabling the buyer to buy a property with no capital contribution on his part.  

Before making the investment, I conducted my due diligence, discovering interesting figures:CAP Rate: 4.144%Asset Value: $213,898.00Profit Per Unit: $184.65Year 1 Cash ROI: 44.33%Year 1 Total ROI: 62.68%Year 1 Total Cash Flow: $8,863.00Expenses: 39.38% Price Per SqFt: $55.34These numbers demonstrate passive income, supplementing my full-time salary and allowing me to save for a future down payment or assist in a real estate venture.

(it is on a 15 year mortgage with 12 years remaining) I am leaving the Army after 12 years, in Jan of 2017, and don't want to supplement that property anymore.