And, factor in the depreciation and other tax benefits, deductions, home office, vehicle expenses, etc. 

This would allow you to indefinitely defer all of the tax if you sold, and use the tax you would have had to pay, to purchase something nicer in an area with a greater growth potential.   

@Jacob HavlovickCongrats on purchasing your first duplex and starting your house-hacking journey—this is a huge step toward building wealth!

Wanted to still be close to family but maintain a cheaper lifestyle, still have strong appreciation, and much better tenant/landlord laws, taxes, etc. 

Credit Rating/Bank Statements/Tax Returns: Specify your requirements, if important to you.Purchase Criterion: How do you define a good deal, which will be profitable for your borrower and safe for you?

You can also try building your own website and get very good at seo or ppc in order for the homeowners to reach out to you. 

If you are taking out a conventional mortgage of any kind, you can't buy in the LLC as it does not have two years of tax returns.You are also asking if an entire state is good to buy multifamily, which means you are too soon in the process to even talk about buying.

One of the developers I work close with is getting ready to build 4 spec houses.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.

.: Its typical for real estate investors to hire a private home/building inspectors to inspect a real estate property before they buy it.