3) Any specific states you recommend to set up any of these (Not sure where I'll be purchasing property yet, maybe Detroit, maybe Cleavland, maybe Augusta, maybe Des Moines, maybe Saint Cloud, maybe Memphis...)4) I already have a LLC based in Hong Kong (We call them limited companies, but the principle is the same).

I have purchased both in state and out of state.

You don't have to split it up equally in between purchases. 

Dave Meyer and Henry Washington shared their opinions on purchasing a deal sight-unseen in yesterday's episode of the BiggerPockets Real Estate Podcast: How to Buy Multiple Rental Properties a Year (Is It Possible?)

To get around this some folks will purchase the vehicle in an LLC and then sell the LLC, and this is not breaking the agreement.The same thing would apply here.

In my opinion this will not lead to long term success - if that is of any interest to you focus on saving up enough to purchase your primary residence.

I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.

., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?

Quote from @Jarrod Ochsenbein: I purchased an existing Padsplit with a DSCR loan. 

If possible, meet the appraiser to provide your rehab details and comps.Also, out of curiosity, when did you purchase the property and when are you looking to refinance?