I've never had a deal where I did not have to infuse some amount of capital.

Great idea, although conventional and FHA renovation loans are somewhat of a pain to qualify for.

Depending on your area, it can be a pain to set up multiple LLCs and keep them running.

Now is just one point in time and one can make permanent judgements based on the perceived current situation but that might be shortsighted.As far as the politics and legal framework, yeah it can be a pain, but for those who understand it, it eventually becomes a competitive advantage.

@Shelan Davis, I am going through similar pain.

@Ed HoffmanYou can do it by registering the NY LLC in PA. In

I would need to know more specs on the house but with material shortages It's difficult to say how much to budget. 80K-120K for full gut perhaps but unsure with lumber beings so expensive and shortages.I would plan 9 months of vacancy between the pain you will endure pulling permits & having your contractors show up everyday to complete the work & then final inspections to get a CO. 

So I wont say not to buy cause I have and it has paid well but getting anything appraised is PAINFUL.

Like almost everything else in life: Short-term pain for long-term gain!

They have rules and best practices about how we put these deals together which has collectively saved us from much of the pain being experienced right now in the multifamily space.