As I've been learning, there are the key taxes to understand when investing into a new area or state:- State business income tax (if you have an LLC)- State personal income tax (if they want to tax you too, even as an out-of-state investor)- City personal or business income taxes- Any registration fees due the city/state- City/state property taxesAnd I'm sure more!

We have a normal REI business with this 4-plex on the side and it takes some juggling. 

Thoroughly research the industry, field, business you’re interested in to see if there’s a “niche”, unique approach, unserved customer base, or anything similar that can be exploited to earn income 3 standard deviations above the mean.

This will involve operating a piece of real estate and starting a business inside that piece of real estate.

LLC's are more used by larger investors and people who do not qualify under their personal names and have to ue business purpose loans and they require the property be in an LLC and not an individual.

Yes you can use the cash out proceeds to payoff a mortgage balance for an investment property since it is still qualified as business purpose use. 

I've always used my business solely to generate an income/paycheck, however I'm ready to transition and use my experience to facilitate investment opportunities.

Any guidance/tips would greatly be appreciated!

Precast concrete is a low margin business overall but seeing as this is very special, it would be more that simple stock tanks and the like.I would go for in-ground all the way.

The investor seems genuine and I could not find any major red flags about him online.