Also, should it be a separate LLC for each house?

Which i would assume if he wants anyone that buys to house to go thru them.  

Rates are also in the high 6s at the moment. 

The region's young population and growing economic opportunities contribute to high occupancy rates, typically ranging from 90% to 97% year-round.

Buyer's agent could/should also negotiate a seller credit that makes the offer $100k, with $3k credit for buyer agent compensation, again resulting in a seller net of $94k.But now buyer has the opportunity to agree with their agent that the rate should be 2%, or a flat fee of $2k, and the buyer then pockets that savings.

Inspecting the property can help identify any issues that might affect its value or the borrower’s repayment ability.During negotiations, be clear about loan amounts, interest rates, and repayment terms.

The region's young population and growing economic opportunities contribute to high occupancy rates, typically ranging from 90% to 97% year-round.

You will most likely pay above market rates for the places if the owner is savvy enough.

Scott Scheel has a good course about commercial real estate, but he concentrates more on apartment investing in his course while he is actively buying retail buildings and not apartments.The loan default rate on apartments is 58%, so before you buy an apartment building think why is it so high.Another avenue to consider is mini storages if you want to own real estate, the default rate is only 16%.

I get about an 85% hit rate.