-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Some were purchased specifically to be MTRs & others were conversions when it made sense.  

There's a very specific ways to calculate FHA income, and it will be highly dependent on how the deal and your ownership is structured.

.: I am getting conflicting information from 2 entities that help create LLCsThe property I am buying is in Arkansas, but I want to open an LLC in Wyoming One entity that helps creates LLCs is telling me that the WY LLC can own a property in Arkansas.Another entity that helps creates LLCs is telling me that the WY LLC cannot own a property in Arkansas, and I will need to create another LLC in Arkansas and the WY LLC will own/manage the Arkansas LLC.Can anyone who has actually created a WY LLC and used it to purchase property elsewhere answer this question for me please?

You can look at an elevation map or ask for a previous survey on a property prior to purchase. 

The vast majority of these units I purchased using private financing with $0 out of pocket. 

I wouldn’t purchase a STR property anywhere it wouldn’t work as a MTR or LTR unless its local economy is based on STR.

Purchase price: $140,000 Cash invested: $22,000 Sale price: $180,000 Moratorium expired a few months before closing and I inherited 2 tenants couldn’t get into the property for 3 months!

As for Alexandria specifically in terms of regulations don't take advice from a public forum - look up the laws yourself and make sure you understand them.

I have construction loan on the current house I'm building and used similar strategy (land was purchased outright and used to cover majority of the down payment).