., to the best of my knowledge a Wyoming LLC can own property in any state, however the LLC must register as a foreign entity in that state. 

Property taxes, income taxes, sales taxes, declining population, unfavorable rental laws, winter weather.

In terms of negotiating the deal, we looked at the property and its condition and negotiated the price down and eventually met in the middle.

We haven't considered the acquisition/rehab of an existing property yet.

The properties are rented and the debt is reducing via tenant rents.  

We just bough out 2nd property (single family with a 2br ADU in basement) with the intention of renting out the ADU.

I'm a property manager, let's network! 

BTW: most owners that have hired a PMC, don't want to speak with you, much less meet with you in person to hear a hyped-up sales pitch.Also, you want to do rental arbitrage - so, you will need to be properly licensed to manage properties you do not own as required by your state & local laws.- why would an owner want to do business with someone NOT properly licensed?

I used half the HELOC ($160K) as a down payment on a 12-unit property, making my dad a 35% owner since we used his funds.

Simon, my investment group does lots of properties in Pitt.