In short, you have to be able to execute an LNA that says you were the last party in possession, basically, you had the note and you lost it.

I would go for a 4 plex if you can afford the down payment. 1-4 is basically same the but just gives you more doors with a similar loan and small down payment. 

Basically I don’t want any of my cash to be stuck, I want to be able to pull out any cash I put into it with a LOC.

I'm the same as everyone else, 5-stars, and it did take my cleaners a while to understand these are not personal homes, but basically a "business home / hotel". 

If you set up a basic LLC for your business it is typically irrelevant for taxes - it's called a pass through.

If you don't make enough and are struggling to cover even your basic expenses, suggest you look for a better paying job and/or take up a part-time job to make up the shortfall. 

I found some legal language I implemented into our month to month lease agreement which basically stated, any guest staying longer than 2 weeks in any 6 month period will be considered a tenant and subject to a $50.00 per week "guest fee."

Hello All ,Firstly , Happy new year to you all ..Very New to investing so have some basic questions and they may be silly but would like some inputs from you all so I get into investing in 2019 When investing out of state - Is it better to get loan against the property from the lenders based in the state or it doesn’t really matter one just requires a pre-approved loan.People who have more than 2 properties have you opened a company to charge your expenses?

I live and invest in Johnson County, it's basically South Fort Worth as far as competition is concerned (high competition).  

@Mark Skaff Here are the basic tools and resources you need to get you started:Listing Platforms:Realnex.com - I useCostar.com - I useCatalyst.com - I useBrevitas,com - I useCrexi.com - I useLoopnet.com - I do not useCRM, customer relationship management options, you only need one:Realnex - I useClientlookApto - SalesforceDigsyMarketing package creator, you only need one:Buildout - I useRealnex - I useMicrosoft PublisherAdobe InDesignMarket and financial analysis - advanced tool:STBD - Site-To-Do-Business (Demographic and Psychographic) - I useCostar.com - Rent and sold comp and market analysis data - I useThe Analyst Pro - Online Financial Analysis toolHP10bii calculatorFuel.com - financial analysis toolRPR Commercial - I useNot all these are mandatory and there are many more that compete with the above, these are ones I've used in the past or currently using now.The key is that you have a listing platform outside the MLS, a CRM to track you contacts, clients, properties and deals, a way to create a stunning marketing package, and market and financial analysis tools.