A purchase agreement is a waste of time and energy and complicates the issue for Harry Homeowner.This is not a beginner strategy as there are federal laws concerning approaching debtors who have been given a notice of foreclosure.

Eamon,Any time you face a major issue with a bank/lender and they fail to refund your money or it costs you money and a lost deal due to ignorance or bad lending. 

Yes the biggest issue was they grew way too fast and he set up an entire servicing company to handle all of their deals.

The only issue is with a bit lower rent there's a higher number of applicants that won't qualify but I don't mind the volume to get it filled. 

There's a good chance the issue(s) you face has already been discussed and answered.Ask questions in the appropriate forum.

Quote from @Ed Hoffman: Are there any issues/problems If I want to purchase a rental property in Pennsylvania with my New York York LLC? 

@Rud SevHere is a start:https://www.biggerpockets.com/forums/51/topics/839015-are-sy...https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

If there are any issues with the borrowers, I don't have to deal with it.

I’m Arizona licensed and while I’m not an attorney or CPA, I’ve got a pretty wide network of investor-savvy agents and property mangrs who I trust.. folks who actually roll up their sleeves and dive into the trenches.The right guidance can help you identify stable neighborhoods in Austin where job growth still hums along nicely, or link you up to off-market multifamily properties in San Antonio that don’t get splashed across public listings.

The inspector should be thorough and telling you any issues.