The demand dries up significantly after Columbus Day but there is lots of local demand for long-term winter rentals at a highly reduced rate.

That leaves the seller (who is most likely in distress if they’re working with a wholesaler) high and dry.  

I haven't pulled trigger yet on out of state property but l far I have done much research...

We want to definitely invest in real estate... however, I still feel too inexperienced to execute on a deal so I will be putting in some deep work hours and join in on webinars/attend conferences/ hopefully find a mentor before pulling the trigger. 

On the other hand, a fully paid house, will almost certainly trigger income tax. 

That said if you're willing to take a bit lower returns and pull the trigger immediately when multi is sent out, you might get a shot! 

Ask a broker they formula they use to calculate the ratios for the rental property then you don't have to have them pull your credit until you are ready to pull the trigger. 

Not always cut and dry 

@Graham Gordon I’m not an attorney but rather than transferring ownership (which may trigger transfer taxes) would your lender allow for you to assign the rights of the property to the LLC?

Like the others said, make sure you get all your ducks in a row before you pull the trigger.