I've helped 6-7 different investors move money from Oregon to Wyoming in the last 15 years and they are all happy they made the move.Consider finding a market that has a better long-term outlook, economically and legally.

And recently closed on a condo apartment that I'm renting by the room.

A deal that’s “close” but not quite right can still cost you big.

I'm not a CPA, no legal advice given.

I can now close loans at a lower rate with my commercial banker than a residential owner occupied. 

If there are any legal issues that I have to worry about etc. 

Hi Jason, It sounds like you are looking to do a cash out refinance on your investment property and quitclaim deed to an LLC at closing? 

Buy a 2-4 unit, close to home.

Is there something about the closing cost of the loan that you are referencing here? 

If you closing costs are also 10% of $350k thats 35k so you are at $315k - great you made $10k.