@Alex Silang I am not claiming to be an expert but I think your best bet would be to look for a turnkey provider in a place conveniently close to you and see if they would be willing to give you a role in what they do - maybe doing something you are already good at, so they benefit, and in return you see and learn what they do.I am suggesting this because in my line of work there are many many people with academic and theoretical knowledge but they often haven't ever really applied any of it.

Should I sell the current home and buy a new one to take advantage of the tax benefit again?

Do any of you guys look at Vegas code enforcement data?

Meeting, weather "mandatory" or not are for YOUR benefit as well as the brokerage. 

Washtenaw is higher taxes but more desirable, Monroe is cheaper in taxes with 90% of the same benefits as the other. 

You are required to live in the property for three years in order to reap the benefit of the 50% mortgage.

And that can be a problem with older houses that do not have 100% up to code with newer builds.

Brother A gets mad because brother B keeps inviting and conveying the benefits of ownership to D and E who haven't put any money in....Or brother A wanted it to rent it enough to offset his payment but B and C want to occupy it the popular weekends...

A good firm will not only be able to explain what you can and can't do with a plan, but they'll also be able to show you why certain actions are not allowed by linking you to official guidance and the specific parts of internal revenue code that the guidance is based on.

Jared,Take a look at these articles and I think you will be able to make a decision.http://www.themoneycommando.com/umbrella-policy-vs-llc-asset-protection-part-1/http://www.themoneycommando.com/umbrella-policy-vs-llc-asset-protection-part-2/ They dive into very detailed explanation as well as many risks/benefits & possible scenarios in which makes better financial sense.