A partnership has the absolute best tax characteristics for multi member LLCs. 

Fannie Mae "Second Home" financing, 90% LTV, for the place where you frequently travel for work.

If you frequently invest in this area, then you might just want to allot a little more than you have for that expense in your rehab in the future - and just make sure the numbers work for future investments, and not worry about it anymore.

That being said, I frequently look for property in the Freeport/Brunswick/Harpswell area.....actually anything around Casco Bay.

ANY title company can provide (frequently for free) a monthly list of NODs and NTS.I ask for an electronic email distribution and that could be fed into Excel

It's great to know there are frequent meetups!  

Multi-Units frequently have a single metered water service and the LL pays water.City Trash (plus sewer fees if any) are also paid by the LL.Other expenses include:PMI (if you're paying this, you didn't put enough downpayment)Taxes & Insurance (if you pay PMI, then the lender WILL wrap these into your mortgage payments)mileagepest controlprofessional fees (CPA + City Business License)Legal Fees (Evictions & Collections)yard maint.telephone serviceutilitiesmortgage interestHOA fees (if any)repairsInternet Access ( a] if you provide access to the local carrier & b] lease prohibits personal accounts)

The Albany-Troy area has far lower price points than NYC metro, and there are some attractive characteristics to those markets.  

When I first joined BP 2.5 years ago, I wanted to be a frequent poster. 

If you are running to the hardware store on a very frequent basis, or using your vehicle to haul significant amounts of materials, the IRS could question your level of involvement and whether you are providing services to the IRA.