you may cross with the persons personal resi for instance.. very common scenario.  

For instance it wouldn’t make sense to have separate LLC for 5 $100,000 homes if setup cost and annual fees are $1,000 per building...

Also if local lenders (local to the property) know the area they can look it over and some will make exceptions or adjustments... for instance if you open a bank account there and deposit $x,000 to show good faith they may work with you on construction financing and/or interest only while doing work for 3-6 months etc. or you can ask for a higher interest rate from them in exchange for allowing you to have an amount built into the loan for rehab. also hard money lenders love this type of thing but can carry high int rates.

If for instance, you're planning to stay local, then consider the demand and supply for each asset class in your local market prior to making a decision!

For instance, I have a sf investment property that I ponder when the right time would be to move it.

Fixed costs like settlement fee for instance dont drop because the property is cheap.

in all states in the US the way wholesaling IE assigning contracts is taught its simply a violation of the licensure laws.. what happens Is some states could care less so the guru's sell courses to these folks convince them that equitable interest works.. but its up to each state to determine if they want to enforce their licensure laws.Oregon is one that is starting to go after folks that market properties they don't own.. same with Ohio  and FLA and some others..NB being a very small market has not really been talked about on BP.. but your correct the bottom line Is folks need to talk to the regulators not an attorney.. attorneys in these instance are paid to argue.. 

I actually lived in my 4 plex in Tucson for a year since I bought it with an FHA loan.They Are More Flexible With TenantsThis can be good in some instances and bad in others.

For instance, If the property is worth $185k, as an investor, I would probably pay $140k minus whatever rehab needed to be done.

For instance, Gross Rents = $2500 X .75% = $1875 Minus PITIA of $1650 = $225.00 positive income and is added to your income.