hopefully something that can be set up online!

Typically setting up the LLC is the easy part.

You can set up an LLC in whatever state you want. 

But to date, I've just set my rents at a rate that accounts for me having to pay the water bill - and informed the residents that each year I'll increase the rent based upon my expenses (including water), so keeping the bill down helps me to help them.But one problem this could cause is if increasing the rent to cover the water bill then places your rent above the market rate.

Quote from @David Kendall Jr: These are all goals that you will set, then you need to back into those goals by numbers (KPIs).

Then set aside the equity to invest outside of a primary home.

My area is relatively low crime, but had one place that someone broke a window to get in.... probably a homeless guy looking for a place to sleep....got scared when neighbor turned light on.I put in a SimpliSafe unit... portable, easy to set up, multiple options- you can use a webcam and get alerts on your phone and future tenant can pay for full service if they want. 

Key is to not grow to fast and have $ set aside as it's never as fast or profitable as you think when getting started where in Texas are you looking to be a GC?

Quote from @Jesse Scheidel: When setting aside money for Capex, Vacancies and maintenance, should you use multiple bank accounts?

.✅ Set aside funds for legal or professional fees if needed.4.