You have to qualify both on the FHA end and then the 203K end versus a conventional loan where the restrictions are less versus hard money versus cash etc. 

They reallocate the portfolio to percentages of less versus more headache for yield. 

The larger box stores are more calculated these days in where they open and when and are deciding how much space they want for online sales versus brick and mortar ratios.

Some people will look at a building and see a dump with a low return on investment while others will see a huge opportunity to renovate and make great money.For this triplex here are some questions to ask yourself:Do I believe in the local economy (this is important as I believe any real estate investment is fundamentally a bet on the local economy)Do I think rents are going to steadily rise over next 5 to 10 years?

What’s the difference of getting an LLC through an attorney versus applying for an LLC on your states website or through sites like legalzoom.com?

Happy to offer my opinion but you know your life best so keep seeking opportunities that you're over-looking.Unfortunately, hard money or private money looks like your best bet thus far.

Best bet would be to walk a couple contractors through and see what the estimates are.

For example making sure the builder collects on just 5 draws versus collecting money before work is completed.Any advice would be greatly appreciated. 

Remote professional relationships are very common.That said, your best bet locally is @Steven Hamilton II.

In the way I'm discussing commercial loans for a SFR it is synonymous, but I think some people refer to a master loan made for a portfolio of properties as Portfolio Lending, so there's bound to be multiple meanings floating around.I find loans to an LLC to be easier than to a person, but I bet that is because I have some incredible vendors that I have built trust with AND I am not a W-2 employee.