Drawbacks may include additional fees for out-of-state registration and possible confusion with managing a remote LLC.2.Wyoming's laws and regulations may impact the management and operation of the LLC, such as annual reporting requirements and taxation policies.3.Specific requirements for out-of-state LLCs owning property in Texas may include registering as a foreign LLC and appointing a registered agent in Texas.4.There may be restrictions or limitations on the LLC's ability to purchase, sell, or finance property in Texas, such as compliance with state laws and regulations.5.Other considerations to be aware of include consulting with a legal or financial advisor, understanding tax implications, and staying current on any changes in laws or regulations that may affect the LLC and its operations.

Instead of converting into a multi family I was exploring other options. 

But maybe a powder room might be a good addition first!

There has to be a big reward for taking on that big additional risk and not only the risk but the additional headache of how these deals are structured.

Let me know if you want to explore the Tampa area at all. 

Additionally, the court found that individuals who owned their property prior to the approval of the 2016 ordinance are eligible for a Type 2 license.

Leverage JV/Equity/Mezz on your projects, either by leveraging the existing properties and cashflow, and putting a second on those, or bringing on the JV/Mezz financing on the New Acquisitions/new buildsAlternatively, finding another private investor locally to you who has additional capital or other offerings to help you scale could be the ticket as well! 

As a newcomer, I'm here to absorb knowledge, connect with seasoned investors, and explore the diverse strategies available.

Here are the details:Bought in 2015Owes - $45kNeeds additional $20-25k as a down payment on the new house for equity.Rate - 6.125% (Adjustable Rate Mortgage) Max is 8%PITI - roughly $700/monthHouse is in great condition so no rehabAsking $175,000, could sell on market for $220-230kRents - $1400-1600How would one structure this deal?

Additionally, these attract a lot of inexperienced buyers who started in the single family or four plex space who are trying to go bigger.