I'm a licensed real estate agent based in King of Prussia, but cover Chester, Montgomery, Delaware, and Philadelphia counties.

:Originally posted by @Wendell De Guzman:Ben, this is why I don't have houses as buy-and-hold anymore.

This has to be double checked at the local urban planning department, and you may look directly at the PGOU (Plan General de Ordenación Urbana) and other zoning provisions.

@Hugo De hoyos I think you should take that 40k and invest in your first property.

Hey @Daniel Pugh - I think @Paul De Luca - meant FHA loans are NOT assumable.What leads you to believe this particular loan is @Daniel Pugh....maybe @Bob Floss II has some insights?   

This opens the possibility of using various expensing elections such as the de minimis safe harbor election. 

Bring all your concerns to an attorney and have them create the LLC and draft the operating agreement.I think most small investors should create the LLC in the state where the property will be located in, in this case, North Carolina.If items such as business friendly case law, anonymity, charging order protection, etc are important to you, you may want to consider popular states such as Wyoming, Nevada or Delaware for LLC formation.Best of luck. 

I submitted the registration online, it was a fairly simple application.Changed all utilities to my name and had the property de-winterized.

@Anthony Taylor  if you are just looking to cover costs and will leave your furniture I would block off a room for your stuff and de personalize it. 

@Bianca Montes De OcaDamn, sorry to hear about your loved one passing away.