@Dakota Soles Of course investing locally should be your first preference if all things are equal but if you can't achieve your objectives in your local market, then you have no choice but to go outside of it.

This is not legal advice but you'd likely need a private individual who is qualified under an exemption from dodd frank.

I think you got the right answers from people, but just to reiterate....Lenders consider each contract individually, and most likely they have a 'no assignment' in their addendum somewhere. 

Would such a portfolio be valued using individual appraisals or NOI and cap rate? 

Using this information I will be contacting individuals with liens on their home that are NOT foreclosed yet, but instead using the foreclosure as leverage to buy the land cheap (5-10% of market value) from an individual.

Higher end rent would require some repairs and rehab.Capex $285Maintenance $285Vacancy $190Insurance $110Water & Sewer $85Taxes $1042 ($12,500 per year).Structure of the property is in decent condition, no current leaks or issues found.Two leases are month to month as of this month, the one bedroom has a lease until august.Gas, heat, and electricity are all paid by the tenants individually.

Well said, @Vince DeCrow.Reminds me back in the day when I was invested 100% in all "High~Tech" Individual stocks.

I prefer to have 1 LLC per property and a management LLC ( that I also own)  recive all the rents ( and lease to the tenants) from each LLC.

They help you understand what all the numbers are for your individual cases?

I am a landlord with a unique SFH rental in the SF bay area, I lease out (month to month) individual bedrooms and manage the property off site (I don't live there).