If you'd like to establish a holding company for your properties, I'd say an LLC of the state the properties are in is best.

Eliminate debt, establish a budget, and save.

Small banks use to do this before such practices were regulated and many got in trouble in attempting to influence a borrower, thus the regulation.

Where you can SAVE money - is by teaming up with one broker or lender and establish a mutually beneficial partnership of return business and maybe earn your self a return client discount.

Having an LLC in that state may simplify compliance with local regulations, tax filings, and property management.

The buyers have reported that they are unable to obtain financing since the duplex (built in 1907) is located in an area that is zoned for single family homes (Toledo zoning was established much later).

I am in the process of gaining expertise in land wholesaling and I am seeking to establish connections with builders, real estate agents, and investors who are acquiring off-market properties.

For example, if there is some dispute about whether someone has an interest in a property, they can sign over their rights without ever establishing what those rights are if any at all to clear up the issue.

There are new regulations.

A good broker can communicate between multiple lenders and often times has established relationships within the C-suite levels of multiple lenders that they can make calls on your behalf to "shake some trees" and get things processed not just in a timely manner, but in a manner that is on time based on what you are trying to do.Unfortunately it is not uncommon per se, but knowing where these hang-ups tend to happen and how to time everything based on lenders timelines and processes is where it can be helpful to have 'go to' lenders that you are familiar with, and they are familiar with you to help get things done.Good luck though, happy to help where/if I can.