It is possible that other agents, who are less familiar with commercial policies, set things up differently, perhaps disadvantageously to the investor (because they are trying to use vehicles with which they are familiar as a solution to a need for which those vehicles were not designed).

I would suggest you contact a good local mortgage broker - I think that they could advise you on which way to go and and which loan programs are the best and what the advantages/disadvantages are to refi-ing your current mortgage with regards to your long term plans.  

For those you who have a broker's license, what are the advantages or disadvantages of starting your own broekrage compared to hanging your license with a low fee broker?

The rewards are tremendous and completely out weigh any perceived disadvantages and risk of leaving a stable corporate job.Thank you @Joshua D., @Andrew Detwiler, @Matt Faix, @Karen Johnson, @Alexander Lang, @Tony Robinson, @Brett Snodgrass, @Glenn Tracy for your kind words and encouragement!

You've been working at a disadvantage and it's time to turn that around.To your future!

I dont know yet but once in contract I might wholesale this, I might close and do the rehab, i might keep as rental or sell as a turnkey rental.So the quesiton is: what state would you open the corp or LLC, what are the cost to open corp/llc in PA(I know NY), what kid of tax Advantages-Disadvantages opening a new company - whether it be NY or PA with a partner and any other pertinent info I shoudl know.

I see all the advantages with this website, but what are the disadvantages?

I've had very good success buying houses as an individual in competitive situations so I want to make sure I'm not making a bad move that will put me at a disadvantage.

You just have the disadvantages above.

The big disadvantage is that you are a newbie, and have a decent chance of making expensive mistakes.