Do I open the LLC in the state I currently live, or the state I own the rental property in? 

I am currently living off a small amount of self employment income, savings and 401k due to health issues so I don't go on the financing per my lender. 

This ordinance is significant for its comprehensive approach to addressing source-of-income discrimination, particularly in the context of housing and rental opportunities.Key aspects of this ordinance include:The creation of a $1 million Landlord Risk Mitigation Program to financially assist landlords who accept tenants with vouchers, such as Section 8.Establishment of a landlord liaison position within the City’s Housing Department to facilitate communication and support.Landlords are allowed to deny rental applications based on individualized assessments, such as criminal convictions, credit scores, and eviction history, but the ordinance also sets clear guidelines for what can and cannot be considered.It includes a delayed effective date, allowing time for landlords and tenants to adjust to the new regulations.The ordinance also specifies that certain properties, particularly older houses that cannot easily comply with current codes, are exempt from some of the source-of-income requirements.The guidelines provided by Kansas City's Ordinance 231019, detailing what can and cannot be considered in rental applications, include several notable points aimed at balancing the rights and concerns of both tenants and landlords:Individualized Assessment Allowed:Landlords can deny rental applications based on specific, individualized factors, including criminal convictions, credit score, eviction history, alleged damages, and rent-to-income ratio.

I have a home I’m currently fixing up for rental.

@Jennifer Fernéz purchasing a commercial property such as the one you are describing usually requires 20%-35% down depending on the current rent rolls. 

My current project is one that I inherited but will definitely pay off in the long run.One of my biggest questions I hope to get answered is how private lending works and if it is worth it. 

While the current fiscal trajectory of the country certainly has some issues, this is generally referred to in finance as the “risk-free” rate—and the main economic alternative to mortgage bonds.

Say I buy an occupied duplex, do I have to honor their current lease?

I currently live in New York.

Based on all macroeconomic indicators and housing trends, chances are high that rates and/or values will be lower in the 6-12 months.