Two identical homes located next to each other would come up with the same value, even though House #1 was just renovated to a very high standard and House #2 hadn't ever been renovated since it was built in 1949.I always tried for an identical (or nearly so) beds, baths, sq ft of living area, garage and acres. 

I havent looked into it, but the location is solid.

There will be an auction in a couple of weeks of properties located throughout Monroe County and I want to take part.

What's the location, purchase price, expected Reno cost, ARV, etc.?  

However, I have contacted the Secretary of State office and it states on their website that there it is a one time filing/fee to form an LLC there.You will typically want the LLC setup where the asset is located. 

I am an investor located in the Philadelphia are with properties across several states. 

When companies consider new locations, they look for specific factors:Population over 1 Million: Companies need a large, skilled workforce and robust infrastructure.Low Crime Rates: High crime deters businesses and residents.Low Operating Costs: Companies seek locations that allow them to remain competitive, avoiding areas with high taxes and regulations.Low Risk of Natural Disasters: Companies are wary of areas prone to natural disasters that can disrupt operations.

Plus, if the property is in a desirable location, you may have little trouble finding tenants.However, there are potential cons to be mindful of.

@Luke FrugeHello - just curious - why not invest where you are located?

Location, location, location!