Setting up an LLC has an up-front cost, additional steps to maintain protections, and requires a separate tax return every year which costs more.Here's the truth: the vast majority of all lawsuits against private Landlords are security deposit disputes or minor injuries that would be easily covered by your standard liability policy.

Truthfully, living with someone full-time isn't something either of us intends to do though, lol.Looking at seller financing options too, but need to educate myself on this.

I am sure not all but I suspect a fair amount of them are not telling the whole truth when trying to explain away damage on credit.  

I would immediately call your local police and just tell them the truth. 

In this example, in 7 years, $1,149 ($1,000 increased at 2%/Yr) will only buy as much as $816 will today.The ugly truth is that no matter how many properties you own in a location where rents do not outpace inflation, you will sooner or later be looking for a job.What causes rents to increase?

Truth if you can not pass through your increasing expenditures with rent growth you will make less money comparatively.  

The ability to speak the hard truth with empathyIt doesn't matter how good a mentor is: if they don't mesh with you personally, it's going to be a disaster.

Truth be told, I have only been at this for a few weeks.

@Anthony ContentoI would love to see your analysis so we can augment ours appropriately.  

@Shane DuncanThere’s truth to both what James mentioned as well as proper documentation.