This is not the case for the majority of metro areas across the US.In less hyperbolic markets there wasn’t an intense amount of speculation so operators didn’t pay high and are weathering the storm on interest rate resets and are finding a way to refinance Deals with maturity walls.I am finding that a lot of killer deals with my clients are happening in the sub 50 unit deal space for those who need to sell, because there’s much less competition in a chase for yield.  

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

If you have limited prior experience owning / operating multifamily assets, they'll also require you to use a professional property manager with multifamily experience.

Best of luck to you.I think @Dominic M. did an amazing job, much better than me, on your post explaining how he would want to see a deal like the one you described.  

Louis branch makes a more sense than cutting jobs in your central location.I agree that the job cuts are being spread around.

You do need to partner with a good operator, and there's plenty of mediocre ones out there. 

It is my understanding that I could form the LLC in my state and apply for a certificate to operate in the state where the rental is.  

Yup, I think if hired someone to do a job, that they have an obligation to do that job to fullest.

When we looked at purchasing a fulling running B&B it was more like 30% with a bunch of criteria we had to meet.Check out this link - https://www.sba.gov/funding-pr...The 504 is for large investments that drive job creation.

You end up having to sell to someone with higher down payments, better credit, better operating plan, and 100% investors who never want to pay top prices.