Best regards,Steven de Lange

Right on the border of Euclid and South Euclid.Appreciate the info here! 

Should I be forming my LLC in my home state (NY), Delaware (LLC friendly) etc.?

Hello Rolando De la Cruz, I think I can help with your question. 

So check your operating agreement and consult with an attorney knowledgeable with Delaware law (or whatever state it's incorporated in).

I have attended conferences where lawyers have spoken on using Wyoming or Delaware for this purpose.  

Even if delivered vacant it can take a considerable amount of time to legally de-regulate a stabilized building and it mostly requires you to have the units vacant for a period time (no cashflow).

I am from North Carolina but manage my current rental arbitrage properties in Medellin, Colombia & Rio de Janeiro Brazil.Now, I am looking to start buying real estate - likely in the Raleigh/Durham area of North Carolina where I am from, but also open to new markets.I stretched myself very thin on my arbitrage business, so my cash is very low. 

Quote from @James De Stefano: Some of the more seasoned vets here know all about foundation repair, but for thought this could be helpful for anyone starting out.  60 seconds background:Houston is essentially built up on a swamp, couple that with back 2 back brutal summers with little rain, and nearly everyone I've talked with recently has some sort of foundation issues creeping up. 

In Delaware we have to give notice of non-renewal 60 days before the end of the lease.