@Elizabeth Taras I cannot comment on the tax perspective here; however, I'd say buy a lower priced small MFR to get your feet wet where you can force value.

People tried to purchase RR’s Pacific Palisades home while he was President with a fraudulent transaction and were convicted and given a Federal vacation.  

1.Benefits of forming an LLC in Wyoming include strong asset protection laws, privacy for owners, and lower costs.

- Which title companies will allow these deals to transact? 

I have something for you to think about though - could you get a job doing what you’re doing in another state making the same amount of $$ or more where the cost of entry into real estate would be lower for you?

What specifically did you do differently on this property transaction, than an owner-occupied property transaction?

I’ve done about 80 or so multifamily transactions from duplexes to 250 units. 

The lot is steep and we had an architectural engineer outline how the cost to remove boulders and build up high (where there would be a better view) would be quite substantial but building lower by the road was more feasible.

If you made improvements you want to make sure that the no seasoning product will let you use the higher of the appraised value and purchase price, not the lower.

I think I may try lowering it to something like that after my first wave of turnovers.