I have run into individuals like this in the past myself, and although it is painful for those who they press their ways upon it's best just to get out of that situation as quickly as possible.Good Luck!

Great idea, although conventional and FHA renovation loans are somewhat of a pain to qualify for.

It took a year of painful lessons (the first of which is that NOBODY will care about your business as much as you do (Evolve), and that - in my case at least- self managing makes more sense -even remotely- than allowing someone else who has different motivations to take the reigns. 

Depending on your area, it can be a pain to set up multiple LLCs and keep them running.

@Shelan Davis, I am going through similar pain.

I would need to know more specs on the house but with material shortages It's difficult to say how much to budget. 80K-120K for full gut perhaps but unsure with lumber beings so expensive and shortages.I would plan 9 months of vacancy between the pain you will endure pulling permits & having your contractors show up everyday to complete the work & then final inspections to get a CO. 

@Ed HoffmanYou can do it by registering the NY LLC in PA. In

Especially in a market like Charleston where affordability has become a huge pain point in recent years.

If you are early in your career (would understand not having a lot saved early on) you should let your current job run for 8-10 years and save as much as you can (as painful as it may be, but remember building wealth isn’t easy either or everyone would be wealthy). 

We used to try to offer to comp and cancel right away if they were a pain so their stay would be eliminated, but I don't know if you still can do that.