There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

But unless their businesses are structured very carefully they're no operating in the clear. 

@Eric LoweIf you cannot find a local firm, reach out to these experts who operate national firms:  @Bernard Reisz, @Yonah Weiss, @Julio Gonzalez. 

Since you have bought a foreclosure before, at least you have experience with the liens and the process, but you won't get a final tally of the liens unless you can get your title company to run soft title search for these things in advance.Closing on a foreclosure anywhere in Brooklyn seems like a nightmare to me from an operational end.

Never had a problem with mine at my personal residence then again I'm sure tenants run it hard. 

But honestly, there are multiple (mostly all) operating illegally.

@Bryan Cavellier, You can 1031 with any US property including Guam, the USVI and ...drum roll- The Northern Marianas Islands (go figure but I actually had a realtor from there in a class of mine recently) into any other US or one of those territories.  1031 is a federal statute so it's applied the same in all locals with just a few variations state to state at the state level. 

Many of these markets are very well represented by sellers & turnkey operators here on BiggerPockets.

But we are testing this now.We operate 7 str's out of state...

Mine set under the below types.