If you are taking out a conventional mortgage of any kind, you can't buy in the LLC as it does not have two years of tax returns.You are also asking if an entire state is good to buy multifamily, which means you are too soon in the process to even talk about buying.

Also your permitting process, type or land, grade of land, if underpinning is required will all play a factor into your cost. 

I have found that the "value add" opportunities, with rent increases, renovations, zoning conversions, and other work needed, absolutely do take up more of your time compared to a more turnkey property - even with third party management overseeing the process. 

Quote from @Martin Jones: Hello, I'm young individual who is interested in long term buy and hold multifamily real estate.

As an example, our request for rent increase that was submitted in Sep 2023 has not been processed and may never be processed.

If you conduct yourself as a serious investor truly looking to work with that PM than they will likely help you through the process, especially if you use them as an agent.

It has taken four months.Unfortunately, when probate is involved, the process can absolutely drag out.

We have sold a few properties and experiencing this process from the seller's side double underlined that for me. 

I was going to buy and rehab managing the process myself so I started calling contractors.

My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.