To state the obvious, it's not like in Australia where you can approach almost any bank with a good borrowing capacity and a small deposit and buy a property almost anywhere in Australia.

It's a bit of suburb and a bit of rural.  

When people know that you are successful and a good risk, that is when they will lend money to you.

ARM's can make sense if you're a flipper where there is already a very short holding period and a significant holding risk because you're betting on the market being there when you sell.  

A seller financed (SF) note is not the same as a purchase money mortgage, it is funded by equity based on an agreed sale price, this makes it an installment loan and a different animal than a cash funded note.Institutional notes have a due on sale clause, an SF note should have if it is common for your jurisdiction but it may not have.

RISK: minimal as it is backed by a deed (home being occupied by and therefore taken care of), and a promise to repurchase the investment.  

----------------------------------------------------------------------------On the front I'll put:[BACKGROUND]:picture of house and a picture of a hand holding hundred dollar bills[HEADER]:We Buy Houses For CA$H!

Any other advice or clues to look for beyond a normal walk through and a normal bid?  

Or do we need to set up an LLC for each state we have investment properties in (one for the 2 Arkansas houses and a new one for the Indiana house)?

There's extra capital needed to remodel the 3-5th floors, but I don't know what kind of options there are for funding that.The area is on the border between downtown and a less friendly neighborhood, but the city just got a big government agency to move in about a year or two ago.