Purchase price: $5,000,000 Cash invested: $1,450,000 Complete combination and gut of two lofts side by side resulting in a 4,000 square foot home.

I feel a loss of direction and that makes it really hard for me to focus and build.Do we keep at building a portfolio of small multi family (very abundant in my market, very rare to find anything above a triplex for sale), with plans of selling the portfolio and 1031'ing into larger properties? 

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

Those remote flips and high cash flow rentals are so tempting on paper, but they rarely go well in reality. 

Quote from @Guan Hong Guo: It's a combined income.

However, transferring a mortgaged property to an LLC could trigger a due-on-sale clause, so consult your lender before doing so.While an LLC does not save taxes, it can make audits more straightforward and help present your rental as a business and you can combine all the hours from multiple STRS into one to meet the MP requirements.

They rarely do.

I am planning to build a portfolio dashboard for my properties in Excel, and I have a pretty good idea of what I want to see about them individually and combined. 

@Rene Hosman As a property manager with 20 years experience and a portfolio of 1,000+ single family homes, I can say concessions like reduced rent rarely work well for smaller landlords.

All this is why, I believe, it's a rare thing in the REI industry.