The ability to get 500K in profit tax free every two years can take quite a bit of the sting out of being asset rich and cash poor.  

I love the idea of offering my time to perform open houses for other agents in my market in order to practice my communication with clients, build my own leads list and just to get my name out and network.  

But I am not sure if the following scenario is a legal practice in the US:This American partner and I form an LLC and make an offer for a $2M multifamily property together.

So it would depend on your market: are there more people who make 120k a year who don't want to (or can't) buy a house or people who make $9/hr who can't buy a house.Another aspect is the ability to add value to an apartment complex from raising rent, adding coin-op laundry (debatable on the profitability), rental storage, soda/vending machines not to mention the natural appreciation.

If you get a Commercial blanket loan you will free up your 4/10 conventional borrowing ability.  

Do you have the ability to do a traditional loan or FHA loan?

I feel like i would enjoy that the most as i like working with my hands and fits my abilities better.

I’m interested in what others say however if it were practical I would think we would all have jumped on this by now.  

His practice covers the state of Florida...

Since rent control is illegal under IL state law nothing can change a landlords ability to do that.