Doing so will help you avoid capital gains tax if you decide to sell later.Second: Test it out by renting the property for a year.

Hi Willie, I think it would be best to wait until you have more capital to put down for a multi-family property. 

I am wondering for those who have an LLC for their rental properties if they are purchasing properties with the LLC or if they are purchasing under their name and then transferring to the LLC?

Your "clients" will disproportionately be elderly people who you will be taught to "help" - somehow you convincing them not to take market value by listing their home, or selling it subject-to, is "help".- In between finding these "clients" you "help solve a problem for" (in the language of the gurus), you will be angrily dismissed by hundreds or thousands of people, if you are able to get into contact with them. - In the extremely unlikely event that you get a property under contract, your assignment fee, in many locations, and probably on average, will be less than the commission a licensed broker would have received for selling the property. - You will be at risk of breaking the law, as many states are creating laws that effectively ban wholesaling, and while wholesaling gurus claim that this is not the case, they are either lying or deluded.

I feel the properties 5-15 minutes away are easier.

For properties under $300K, you can definitely find okay options in these areas.

I own several out of state properties.

You need to wait until you receive the deed before rehabbing the property.

Anything 1m+ will be harder to sell (I am making assumptions on the price), there is simply a smaller pool of buyers.

Need to raise capital in order to buy properties?