You'll also have to register any such LLC in the state where you buy properties.

What capital do you have available now to buy or are you only looking for seller financing?

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

There currently appears to be a flow of investors still buying and renovating properties in this area, which seems encouraging.

According to NYC, STR is hurting housing affordability just like normal people can buy a house or condo near the Time Square and Madison Garden. 

turnkey section 8 is not going to be like buying a brand new home there will always be differed items or stuff that does not work etc.. age of homes makes this impossible. then you add section 8 tenants and  there you go

It's just a rule of thumb, and only tells part of the story when buying a rental property.

Buy it personally, and rent it full time to my C-corp?

If not, ride out the 12 months with the hard money lender.People have to make good choices and not over extend themselves just for the sake of buying something they really can't afford or that doesn't make good cash flow.

We are looking to do long-term rentals for a buy-and-hold strategy, starting to build up our portfolio and gain momentum.