It is very simple and cheaper to set up the LLC in NJ vs NY ($50 vs $200 when going on the state website) what is still an open question is I also need an operating agreement for the LLC once set up, wondering if that is also free as part of just getting the LLC set up on the state website or if I need to use a lawyer or a legalzoom type of service to do that.

If you decide to go the multifamily route, Real Estate lab .com is a multifamily software for deal analysis plus they have many other useful features. 

Everything you need to learn/know is available online for free.

I believe Paula Pant had a recent podcast episode on Afford Anything that featured a couple who lives in Japan and invests in the US.

Choosing a solution like that means missing out on significant opportunities to free up your time for what you do best while also foregoing the expertise of a tax professional who could provide substantial benefits—potentially saving you thousands of dollars.

Feel free to let me know if I can help you.

I’ve done a lot of research on these projects, so feel free to ask any questions here.

The single biggest advantage of selling your homestead is that you can take all the Cap gain tax free if you have lived in the home as your homestead for 2 of the last 5 years. 

If you're lucky enough to get a free and clear property where the seller is willing to finance, this reduces much of the risk associated with seller-finance.I would make sure the title is then moved over to your name, especially since there is not a risk of a due-on-sale clause being triggered.

Feel free to call my office and speak with me if you want to look deeper.