Yep I suspected this as I already co-manage an LTR.   ;-)    I had a distinct sense the MTR workflow was going to be much more involved (depending on MY own involvement in it).Just trying to first learn from others on their:a.

An LLC is not free.

Is there any way to get an FHA loan and transfer it to the LLC?

Any asset you buy that provides income is an investment.Whether the home in your scenario is considered an investment or not really boils down to your goals with the property, but it also doesn't really matter.

@Gavin Wynn, why are you wanting to form an LLC?  

Beyond that, you need to become an expert on labor and material rates in your area or get connected with someone else that is. 

An earlier post mentioned "vacancy."

An inspection report is also a good idea.

Hi all, I am an American expat looking to buy a duplex in Cleveland.

Key Steps:Set Up an SDIRA: This allows you to invest in real estate directly.