There is so much to learn here. 

The place is for rent right now 750/month not including utitilies... the town is in need of rentals.. so i can basically guarantee it being easy to rent as the realtors in town say its been great.. they are also the local property managers.. haha small towns. i have 5% down.. so i also need to pay the canadian CMHC insurance of 2603 added onto my mortage. the house is so cute.. yes i know that sounds emotional and i know this is a numbers game.. but I think its a perfect little starter place.

In other words, forming a separate entity to fall into an some exemption to facilitate your activities to avoid compliance is pure horsefeathers (BS for those who don't know what a horsefeather is). So

There is so much in BiggerPockets, I believe one of its greater assets is that they offer a venue for networking. :)If you like, you can check this quick guide to learn how to use BiggerPockets to grow your business: http://www.biggerpockets.com/bizSee you around!

Not really any room to move around b/c the loan is so close to market value.

End of the day its all about money and greed and duping the poor investors who just read the blue sky BS that is bandied about on this site how your going to get rich buying and holding cash flow property and because everything is so expensive in LA you MUST come to Memphis and buy dirt cheap pieces of crap houses. 

Continue to soak up all the information from this site, there is so much information on here.  

By this time you are so far behind on your mortgage that you cannot get out of foreclosure on your primary and your credit rating is so affected that refinancing is out of the question.

There is so much to learn on this site and connect with others.

That is so rad to hear those success stories.