This exemption from UDFI in fact only applies in the very narrow scope of debt-financed real property.  

Nothing like a long, narrow walk-in closet that you can't walk into.

Also if you buy in LLC, and you want to do the above method your END BUYER has to get a commercial loan so it would narrow your buyer pool. 

Congratulations on starting your journey.As @Carl Millsap mentions, you need to narrow it down a lot, or you will get stuck looking at so many properties you will drive yourself nuts.1.

Also, if anyone can give insight on desirable neighborhoods in these cities in order to narrow my search down. 

When I was last looking at their prices, they were on such narrow margins with their flips, they didn't have much room for downturn.

Definitely read this too as a start: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction- And the other BiggerPockets books are great resources too along with all of the site content and forums which are free - Narrow down your focus on where you want to start and what you want to learn, probably best to pick one thing at a time to really dive into and get good at versus trying to learn every strategy in-depth at the same time.

It's not so much about limiting markets, but more narrowing down so I'm not aimlessly searching. 

Narrow your comp range (and take the lower range as the market will drop over time) 2.  

Narrow down a list of Metro Locations.