this would seem odd to me, I was hoping that one LLC held somewhere would allow for investing across the US so I was interested as to which State would be the most beneficial tax wise really. thank you for taking the time to respond.

However, they might not appreciate as much over time, and the market can be a bit more unpredictable.Ultimately, your choice depends on how much risk you’re comfortable with, your long-term goals, and how involved you want to be.

After contacting about 4 lenders, I am finally trying to choose between these two offers:Option #1: 200K at 10.5 % variable rate, 20-year draw periodOption#2: 138k at 7.6% variable rate, 10-year draw period.Which of these would be beneficial for a newbie investor like me.

This is giving them more choices and forcing a reduction in rent from what we have seen to attract residents.

DM if you want me to guide you on choices for your borrowers. 

Seller financing is beneficial for deferring taxes or steady income.

If the latter, you will likely not have a choice as most rehab loans require a GC.

My first choice is Oklahoma City, but I’m also looking into Memphis.

@Nathaniel Dean Morrisoni'm still not sure I'm following you, but if you're asking - should you use extra cash to put more money down on a house, and/or use extra cash to lower the rate - those are pretty personal choices so you have to decide what's right for you and what fits your budget. 

Your choices are to save more money or work harder to find one off-market for a below-market price.