I've also read the article about the $35,000 "pigs" that folks seem to hate.At the same time, I'm buying distressed properties that were previously rentals that are absolutely trashed from neglect of the previous landlord.  

Carson Wilcox Absolutely negotiate.

The Bigger Pockets podcasts are a part of my daily commute and are an absolute wealth of knowledge!

Knowing your destination will help them know that.Private money should have absolutely zero issue with putting your property in an LLC.  

Absolutely sell.

Expenses have absolutely nothing to do with rent.

Hey @John Hemphill I live just down the road from New Brunswick, so I'd be happy to discuss real estate anytime.A few things to think about:- You are absolutely on the right track - buying a house through FHA and living in it and renting out the other units/rooms can be a very smart idea.

I absolutely hate to go through traditional govt backed loans due to myriad of paperwork that's needed, the time constraints plus most bank won't even touch properties that would need extensive rehab.

I'm currently live in Montclair, NJ and absolutely love the area. 

I would absolutely find a more local mortgage broker/lender that is familiar with SC real estate practices and has a network of other professionals to aide them.