I would not lend to an investor who is buying and planning to remotely manage a MHP that is not from, has living experience, or travels frequently to that specific submarket and know the great submarket/metro very well. 

( we qualify for a second home without having to rent our house fyi) House we want to buy, we plan on living there for a while. 

LLC's also don't give you any extra tax benefits for rental properties. 

Without a brokerage to sponsor you can not even view listings for realtors but alone selling or buying properties. 80% drop out of real estate business 1st year because they have low production or no production.

You probably need to buy off market, if you are looking for cash flow.Click to enlargeLeft Side is buying using a bank - - - - - - - - - - - - - - - - - Right Side is buying using Creative FinanceIf you are new and looking at buying a property or a house, or other real estate, I’d compare cash to financing, to offering creative financing to the owner.

In addition to a commercial insurance policy, I recommend buying an umbrella policy to your personal coverages.

If you form in your home state but buy in IN/IL/WI, you’ll still have to register as a foreign LLC in each property state (double fees/compliance). 

@Ezekiel Trevino  I do not recommend seeking any further advice from the investor who shared “If you already have the money for an LLC, set it up first and buy your first property through the LLC.” 

Like a Dave Ramsey book on budgetting that should just say if you don't have the money don't buy it on the first page and then you can include crayons or for an extra $20 magic markers with coloring book pages.  

I am wanting to buy a single family home in Lexington, KY and VRBO/AirBnB it.