If you go conventional the lender will require 20-30% down depending on your profile and the deal terms. 

Depending on the state, you will need a designated agent for your LLC, in that state.

Transferring ownership to your LLC might trigger transfer taxes or reassessment, depending on your local regulations.Commercial lenders will evaluate your loan based on the property’s cash flow (DSCR) rather than your personal income, which is great for freeing up your DTI. 

If the rate is reasonable then it may make sense to try to save fast to get to the 3.5% down payment on a double or triple - househacking may allow you to increase your savings rate and pay down that loan even faster.As for estimating costs, closing in NY factor at least 1% of the mortgage amount for tax, plus $1500-2000 for lawyer, title and fees, then the amount required by the bank for escrow will depend on the actual property taxes and insurance.

You will need to factor in rehab costs, which could easily eat up another $50-75k depending on the condition.

The ones I manage total to 20 bedrooms.These rooms rent for between $125 to $225 per week depending on room size and amenities in the room (beyond basic amenities may include: Desk, Tv, private entry, tenant controlled AC, additional storage).This month after padsplit takes their 14.25% cut of the revenue I am recieving, from the units I own, $15,230 from 3 homes.

I'd love to give you some insight into what the Memphis market might have to offer you depending on your goals. 

Depending on what your goals are.

That can vary depending on the market and the level of service provided.Hope this helps!

Gross revenue varies depending on management company.