Gardner, MA$60,000 acquisition price$125,000 renovation budget$340,000 estimated after renovation valueThis is a property we are holding; we expect a monthly mortgage payment of $2,100 versus monthly rents of $3,000How we sourced it:cold calling non owner occupiersRenovation issues:Building department initially rejected our permit application because it was filled out incorrectlyBuilding department rejected our permit application a second time because it was filled out incorrectlyBuilding department scheduled a physical inspection and determined that we had structural damage and needed to obtain plans from an architect in order to proceed with the projectSolution: we hired an architect and completed the plans.Lesson learned:do a better job submitting permit applications, we believe we could have avoided the physical inspection had the permit application been submitted correctly the first time around. 

Your social circles are dictated by the effort you put into them moreso than your physical location. 

There are at least 15 lenders who did at least 1 FHA 203k loan last month in Baltimore and there are 43 lenders with a physical office within 35 miles of downtown Baltimore that have done at least 1 FHA 203k in the past year. 

I would find a great realtor who is willing to do the legwork of gathering all that stuff.I have realtors in Vermont, North Myrtle Beach, and Anderson , SC who vet the physical and zoning aspects of the properties before I even set foot on the place.  

My question is what are the requirements for the physical condition of the multifamily for the inspection and also the appraisal process?

I'm open to both but would primarily like to get my feet wet with actual physical work on properties.

I'm a very very by-the-lease guy, and my wife is the good cop - she is physically petite and very quiet and soft spoken (except when negotiating)Jim Kennedy, CPA

Double check with your title company to ensure the property on the docs matches the physical location you expected it to be in. 

Should I create separate LLCs for each property in the states they are in, or should I create 1 in the state I live in and file each as foreign entities in the states they are physically in?

I don’t think you could physically do that from slamming door.