This is pure gold..

Funds are attractive to some purely for the easy button effect. 

Is it purely a cost savings?

I’m 28 and based here in Woodbridge VA as well although I am looking toward NC for my first rental pure property.

When I was a new agent real estate was not new to me, I had been an investor for 10 years and my father was a contractor/home builder, but I was new to being an agent and my real estate board had a guest speaker, one of the top agents in California.I was floored, the guy was short, pudgy, balding young, and was so introverted he about had a mental brake down when he had to string two words together with a stranger and he sent me on the right path when he could muster enough inner strength to blurt out see the people, talk to the people, and see and talk to them again and again.Other agents when we were walking out were commenting what a waste of time but they were just given golden advice and instead of joining them at the bar I went back to the office and just sat at my desk thinking about this guy and after a few hours I went out and bought some three by five cards and file boxes for them and being born on a farm I said to myself I am going to farm people and thanks to another agent who I call my mentor that other agents avoided because of his long stories, he became and agent in 1909, and those stories and his opinions were pure gold. 

There are a few restrictions, such as it must be for owner occupants and you are not allowed to change the "envelope" of the building, nor would you be able to sell of the units as condos down the line, but if you are approaching it from purely a rental perspective, that might be the play.

Then you go ahead and drink from a fire hose with all the information (albeit helpful and insightful) about the details.

We recently had the property inspected, and the report came back with some things we could use to our advantage, so we hit the re-negotiation table.Our initial offer was:Purchase price: $2,150,000 - (conventional financing)But, after meeting with the seller on Sunday, here are the new terms:- Purchase Price: $2,150,000- Seller Financing for 30% of PP- Seller pays ALL closing costs- We provide seller with a case of beer and have a celebratory drink after closingWe were extremely lucky to find terms with the seller that mutually benefited us all, and we all left the meeting feeling zealous.

You will always have a 7-10 degree temperature change from 1st floor to 2nd floor, purely because hot air rises and cold air falls.

If it was a pure rental property, then I would said put it into an LLC (this will not increase your chances of a mortgage by the way).