You’ll likely need to look beyond the city limits (in areas that are still close enough to the city to benefit from its local economic tailwinds) if you want to find deals that pencil out.

Think: a coffee station stocked with local beans or a reading nook with plenty of natural light.

A few years later, I hired a local Wyoming attorney to create a living trust.

When I ask others at my local meet ups they just reply with "I've been doing it for a while" or "lots of practice."

I realize it's just an example and my comment is a generalization but just something to be aware of.With regards to the original question, I think it comes down more to what you want to do and what the offer is for walking away vs. rebuilding.That is the exact example a public insurance adjuster used when speaking to a local investor group a few years ago.

I would recommend shopping around, especially with a local mortgage broker.

He is our local expert realtor and real estate investor! 

@Craig DanielsI own a local top reviewed real estate brokerage and property management company in palm bay.

Congratulations on the duplex -My investor clients have acquired several multi-family investment properties locally in the market I operate in Northwest Indiana - Figure out your personal investment objective for the next 4 years and align yourself with the next property that make sense in this current market environment-

The LLC isn't the important part, it's the operating agreement- you should defintiely hire an excellent and local attorney to do that for you.