Looking for advice

[Kelly Bettendorf]

Hi, my name is Kelly and i'm new to biggerpockes and investing in property.

To start out let me say I have been reading the book on investing in real estate with no money down. it has really helped answer a lot of my basic questions on were I am today.

A little background:

In December of 2013 I got my first property in Oregon, A owner occupied duplex which i used a FHA loan as a first time home owner. I paid 160,000 for the property and today it is worth aprox 208,000 zillow estimation not counting some major remodel improvements, full gut job on 1/2 new kitchen, floors etc. The property was purchased under my name and I am now looking at refi for two reasons. first to get out of the FHA loan were im paying the extra fee due to not paying 20 % down. 2nd Im looking at creating a LLC in Oregon and refinancing the property under the business name.

In the last few months ive gotten married and moved cross country to the Maryland area for a new job, and we are currently renting as we are getting to know the area and will be looking at the possibly of another likely owner occupied multi family property. our current window were shopping is to try to identify a really good deal in the next 9 to 12 months. 

At this current point, we have little cash assists and are looking at options of using the equity of our duplex as a source of funds for our next buy.  

Im in my early twenty's and looking to get any advice to better build my knowledge for going forwarded. At this point i am looking to attend some auctions in my new area to get hands on experience on what to expect when were ready to buy. Currently I have a goal of accumulating a total of 5 properties in the next 5 years.  

To my questions:

Would you recommend refinancing the property in Oregon to get off FHA and move to a fix 30 year under a LLC name?

Do you know if I need to create two LLC's for each state or would it be better to look at a foreign LLC registration?

Any other advice or comments would be welcomed.

Thanks

Kelly.