Primary home is a little easier but for FHA and other programs it requires 12 months title seasoning.There is something called delayed financing that if you purchase a piece of land and pay for the home "All Cash" without a mortgage you can get up to 80% LTC.

We've essentially ruled out investing in our local community because we can't seem to find a good deal (we live about 1.5 hours north of NYC, so purchase prices are very high), so we are considering (1) investing out of state; or (2) investing in some northern NY localities (Syracuse, Albany, Rochester, etc.). 

No, you cannot purchase a home with an FHA loan via an LLC.

What if I told you that you could purchase your house by only paying for 20% of the property value?

The purchaser of the property, sometimes the foreclosure rescue artist, is now free to refinance the property or to sell the property to another party.

Hi NidaI am very spectacle that the purchase prices you mention are anywhere but war zones.Most worth considering will start at $100K with rehab necessary.Please bewareBest Mike

I would like to learn more about seller financing, I see a lot of information on the internet about seller financing but honestly I am just confused.

Quote from @Cody Lewis: My wife and I recently purchased our first STR.

You can fund it with funds in former employer plans and/or IRA accounts.  

Purchase price: $115,000 Cash invested: $42,000 Sale price: $168,000 Unfortunately, we bought this property as a buy and hold property, and our research led us to believe that this neighborhood was up and coming not in a bad area of Jacksonville.