Step one - in preparation I ordered a separate planner strictly for this goal.

- If you're acquiring a property with tenants then I would need to send you a separate list of about 50 items to address hahaha Hope this helps.

Definitely take advantage of having two W2 incomes right now to buy properties and be sure to each use your VA loans once or multiple times if it fits with your goals.Just know that if you are serious about building a real estate portfolio, you will eventually get to the point where you can separate from the Military if you choose and go full-time in real estate.

My crystal clear criteria was to find a 2 level house with a separate entrance for the lower level. 

You’d want to know the status of all tenants and their leases, are the units separately metered, year built (new lead based paint law has just been passed this year for rentals).

That way you are putting some separation between your personal assets and activities from the LLC's.

@Gabe GoudreauAs @Allan Smith noted, cash reserves is the answer.When one buys any rental real estate, one needs to fund the down payment, closing costs, and cash reserves.Create a separate “rainy day” account for your rental properties.

Hello there,It's my understanding that the LLC alone does not offer you protection, it merely separates you from your business, hence the limited liability aspect.

I had intended to sign a separate contract from the HA lease with the tenant.

If you are going to have an LLC or getting serious about REI then you should treat it like a separate entity.