In the past, I've done some out of state purchases [Memphis/Little Rock] through turnkey companies.

Rates ticked down the most in a week for 2024, last week so sounds a hair high..we just priced a DSCR purchase for 5+ units just below that..Check in with @Joseph Chiofalo for a quick quote.

Interest rates are higher when we purchase for an LLC owned property vs a personal owned property. 

You can "generate" it if you purchase, either yourself or with others (e.g. syndication), a large property and do a cost segregation. 

What is the process for taking over the old lease? 

I do not think she will go quietly and I'm trying to gameplan out process and wanted insight from other investors... when you're about to send someone notice to vacate and don't think it will be a clean process... do you also start the formal eviction process at the same time as you send the 30 day notice to vacate if they're behind on rent?

If I find a lie or fib during the confirmation stage of the vetting process, no excuses.

Could be CLass A, but you didn't share what the ARVs are.Most investors finance 75-80% of a purchase or do a cashout refi to BRRR it.Class A properties are almost impossible to cashflow with, especially with +7% mortgage rates.Class B, you're lucky to cashflow these days, but can do it if you buy wisely.Class C is what many investors are focusing on currently as they can cashflow from day 1, even with +7% mortgage rates.The challenge is most investors targeting Class C for cashflow, don't take into account the corresponding lower-class tenants and all their associated challeges.

However - my job is very high paying so I will look to build savings and start making my first purchases.  

Im looking to purchase a mobil home to rent to section 8 tenants.