If you're expecting $100k net in year one it's well worth it to add a tax CPA/EA to your team of external partners.An LLC with an S election might be the most advantageous avenue to pursue.You would have to pay all employee-owners 'reasonable compensation'. 

Then they only need 7 days for an appraisal and final approval of the loan applied to the selected property.Some other approaches that we have had success with is Driving for Dollars, seeking out as-is properties, and properties that have been on the market for 30 days or more.

When you sell a house and you receive several offers you can select the offer that you view as the best.

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Keep in mind allocation of income and distributions must be made prorata according to equity ownership if an S election is made....otherwise you bust the S Corp and revert to C Corp.

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I've narrowed my strategy down to two routes: send mailers out to my county tax delinquent list, or select a neighborhood that is mainly vacant but is fully platted and has some new construction popping up (there is a specific neighborhood I have in mind). 

If you are looking for deals between 5 and 20 units the selection is much smaller and those that do come on market are usually not amazing returns.

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