I have been wanting to buy this piece of land for years and it has recently become available.

I am looking to buy a 2 or 3-unit home in NYC.

Quote from @Jimmy Chao: I am weighing some options to help my younger brother buying his first primary with a fixer.

It might just make more sense to buy another property and move on.

Then you'll need to find land, acquire it, find a spec home buyer and set up meetings to design plans or buy a set online with mods.

Don’t Just Buy—Negotiate – Winning in real estate isn’t just about finding deals, it’s about structuring them right.

I've worn three hats in the seller financing world (as a property buyer, as a property seller offering terms, and as an investor that buys seller financed note). 

Investment Info:Single-family residence buy & hold investment in Valdosta.

I wouldn't recommend setting up an LLC out of state if you are buying in Tennessee unless your tax advisor is looking to help you on strategy.. but from a numbers standpoint, it really doesn't make sense when you start adding up on all of the annual LLC reporting fees from different states and then it starts cutting into your cashflow.

If you learn how to use Hard Money loans properly and how to find good deals in need of rehab, there are plenty of areas of the country where you could buy 3-4 rent properties in solid middle class areas with good cashflow.