I'am considering these states as property tax and tax are low in the states and my husband did his graduation from Arizona and Nevada is closer to where i live and North Carolina is in my mind without any specific reason:) . 

It is also very big and requires constant reno/repairs.My tax returns are laugh worthy to conventional lenders and I have 2 other properties so my debt to income ratio looks ridiculous to the average underwriter... but the cash flow is definitely there. 

@Matthew DekkerIt's exciting to start investing in rental properties in the Philadelphia region, and even with a little initial investment, there are a number of tactics you may take into account.

Having one asset per LLC will drive you and your accountant insane and when you realize they charge like $1000 min for LLC returns and you have 5 LLCs that the $5k tax will eats up 1/2 your cash flow you will be like oh boy…

Legitimate hard money lenders and private lenders may not ask for business taxes, bank statements, or other documentation but they will ask for much more money down, their terms are usually 12 to 24 months loans, and higher interest rates.

I have a background and education in Construction Engineering and worked in commercial construction for the better part of a decade while I was investing in residential real estate on the side.I've been in brokerage as a real estate advisor for the past 4+ years full time and I specialize in 2-4 unit residential multifamily which accounts for half of what I do (about 2 or 3 multifamily deals a month) and the other half consist of single family homes and condos.I grew up in San Diego and its all I know, I got my undergrad in Construction Engineering and Graduate degree in Business locally also.I am a big fan of starting off investing locally with low money down and that is how I personally started myself...I read a ton of books and listened to countless hours of podcasts but all the magic happened when I stopped reading and listening and started taking action.Welcome and feel free to send me a private message if you want to chat.

I get the $25,000 to $50,000 Option fee for my pocket, and I can buy another property, plus I get about $8,700 a year in cash flow and the principal pay down and the equity capture and the tax write offs.

I will take all of this advice into account.  

Research rates for a payroll service for your employee that can handle your federal state and local employment taxes / calculations Know your federal state local and county tax requirements as well as whether you must have workman's comp for the person or not.

Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed.