I personally stay to the NW and away from the East and North East but people are doing just fine almost everywhere in the valley if not everywhere...Try to limit your market by thinking of requirements, I narrowed my market by area/zip code and then said... 1500-2500sf, 2+ garage, 3bed+ 2bath+, less than 20 years old.

If you used it to repair your primary home it could be 2nd mortgage with limitation, if you used the proceeds for a new sports car it is personal and no deduction.

Of course, the main issue we seek to tackle is how to best limit the liability of the parent company - and the attorneys that we have spoken to claim that 1) "this is out of their league" or 2) are unable to provide any specific insight on the specifics of the legal structure.

That includes (but not limited to) Mortgage payments, Taxes, Insurance, Utilities, HOA fees, etc. that occur during the Rehab phase and up until the property is fully rented.3. 

Property may be subject to leasehold interests or other rights or claims of various tenants or other occupants, and Buyer may be subject to the United States Service Members Civil Relief Act, or other federal, state or local law, as applicable.

Also, is it the first person who submits an application and passes the background/credit check who I move forward with as the tenant to fill the unit?

Leland is right outside of Wilmington's city limits so the houses are respectable prices and Jacksonville is right where the Marine bases are so you will always have people to rent the homes.I'm doing pretty good in terms of knowing the areas but im nervous to make my first move and get out there.

@Geoff Cavender All the answers you are looking for are already here on BP - you should read these:How to Effectively Conduct Joint Venture Agreements as a Real Estate Investorhow-do-i-properly-construct-a-purchase-with-a-partnershipcreate-an-llc-for-first-partnership-best-way-to-do-sotaking-on-partner-s-and-limiting-our-liabilitesIf you still have unanswered questions after that, you need specialized help - talk with @Scott Smith.

They are limiting the comp area to west of Quebec and north of I-70 and just to get 4 they have to go back a year.

I hold my apartment buildings in LLCs, so my risk is limited.