We are new to the real estate industry but we are building a family owned business to earn an honest living while being able to provide and instill good ethics and morals into our children.

Just trying to feel out the market.

Hello everyone,  I just joined the forum and BiggerPockets Pro.  

Laud area-Cash flow is minimal, $300 a month-Selling now would allow opening up of equity to redeploy in another market with over 2x the cash flow for a new build-New market won't appreciate as much as FL though (not even close)-Current home will likely get hit with higher taxes, insurance etc. in coming year and years to come-Biggest reason to consider just keeping current property?

You are looking to create the biggest spread possible so shopping around for the best rate and terms should be a priority.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I understand the pros and cons in general of LLCs.  

Their website has resources, to include a Landlord section in the menu: https://housingforhouston.com/landlords/partner-portal/

With the goals you've mentioned, as bad as I hate to say it, I'd sell the condo and buy a single family home for you to live in.

The IRS has issued a warning to Tax Professionals to beware of scammers that are trying to steal business and taxpayer information.