When interest rates shot up, the market seized.

I am a rookie investor working on building my portfolio and a structural engineer offering consulting on any structural concerns you have for houses you may buy, or if you want to know out a wall to open up some rooms in your next flip. 

They are purely for investment purpose and will require you to sign a non-owner occupancy affidavit at closing stating you don't plan to occupy the property for more than 14 days out of the year.A second home loan is as it sounds, a loan for a property that you will use as a second home, and live in.

So, this is putting him in the position to have to look at the possibility of doing a 1031 exchange on the 2.5 - 3.0 million that would otherwise be taxed at capital gain rates (he wants to avoid paying Uncle Sam at all costs).

Most claiming to cover closings costs/sellers cost.

Roomies it was within days but I can't speak to the quality of the prospective tenant as they were slower to show up to view and FF I had a commitment quickly.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Also look at their property tax rates and how much they go up each year. 

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

There has been enough uproar in the family that she will not sign on the dotted line.