The January 2025 report from the Austin Board of REALTORS® (ABoR) shows stable housing prices and balanced market conditions in the Austin metro as we start the new year.

Purpose of the fund: To purchase old land, rezone, demolish, and rebuild homes to sell at a profit.

I live in NYC and started investing in Buffalo a few years back, mainly for the reasons that you mentioned. 

Worse case, you may break even or even lose a little the first year.

Audrey - Dave might disagree or add more context, but I think that predicting 5-year rent growth is a bit like forecasting the stock market 5 years from now. 

As @Brett Synicky suggested, keep it simple, as a sole proprietorship.You are also not considering that you will have to pay $800 per year and per LLC to your greedy state.In short, get some professional advice instead of TikTok advice.

Do you have property managers and contractors who your clients have been using for over a year successfully?

Verifying last 2 years of rental history very important!

I worked in different fields for decades, was a stay at home mom, then activated my real estate license (it was inactive for 15 years and I stayed up on my continuing education). 

Yes, I AM an "insider", have been for years now.