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

He still buys at a discount regardless of the strategy.

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.

I’m getting re-acquainted with the BP community after purchasing my first house hack in the Pittsburgh area, and would love to make some connections with other like-minded young professionals and investors in the area.And if there’s anyone out there who’s just getting started and looking to make the jump to buy their first property, I’d love to offer up advice, share my network of contractors in the area, and answer any questions that I can from my experience over the last 6 months!

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

Quote from @Allison Cutlip: Hi all, My boyfriend and I are buying our first home that is a duplex, planning to live in one unit and rent the other side.

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

.: As a contractor and flipper, I dont buy materials from retailers or online.

well, anyone that types in "we buy houses" to sell a house, was obviously looking for a "we buy houses company" right?

But buying without any inspection is rare.