In New Hampshire, where I am, we run into the same situations with older converted SFH to 2,3,and4 unit buildings.

This would be Northern New Hampshire in either Franconia or Sugar Hill.

New Hampshire and Vermont are much smaller states than most major metropolitans. 

I  would take a look at Lowell, Dracut, Fitchburg, even up around Nashua, NH. 

I am looking to learn more about pre-foreclosures and foreclosures in MA and NH as well.  

@Shaun Ng I discovered Jack Yvers in New Hampshire and he’s made more with investing my funds from my Roth IRA in 3 months than I made in about 5 years.

Have you looked up around North Conway, NH if not take a look its a dynamite spot to jump into the STR world. 

Like other posters have mentioned - it will likely vary by lender - but generally most states will be OK with either Individual or LLC but there are a handful of states that due to various regulatory interpretations will require a LLC (or require a LLC to have prepayment penalties on the loan structure) Borrower = Individual or Entity AL, AK, AR, AZ, CA, CO, CT, DE, DC, HI, ID, IL, IN, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, NE, NH, NJ, NM, NY, NC, OH, OK, OR, PA, SC, SD, TN, TX, UT, VT, WA, WV, WI, WY Borrower = Entity only GA, FL, IA, MT, RI, VA (1-4 Units) Prepayment Allowed Vested Entities Only IL, NJ

I’m looking around New England, NH lakes region, white mounts, skiing. 

My home state of NH is $102, every year, until you dissolve the LLC.