New to investing a few questions about LLC and Loans

[EJ Hulse]

1. Ok as far as a LLC goes I live in Vegas can I get an LLC in another state and if so I can buy and sell in Vegas with that said LLC?

2. Here's My stats I make 34k per year I have 10k Liquid and a 760 credit score I can get a loan very easily but that's an owner occupied I am looking to buy, hold and rent out my problem i am running into is all the banks I called want 25 percent down? Any loan programs that will take it down to 10 percent down?

[Luke Carl]

You don't need an LLC right now. You can't get a loan with the LLC at all. The LLC will need to show profits and have tax returns just like you do as an individual.

The only way to get 10% down is on a “second home loan” which you could Airbnb but you can not put a tenant in there. 

You’ll need 5 grand give or take for closing costs so really you currently only have a 5k down payment. A 50k property is not going to get you the reviews you’d need to survive on Airbnb. 

Here’s my advice. Find a duplex for 100k, live in half of it (which you must do for a year minimum) and reevaluate after that year is up.