I bought 2 foreclosures super cheap, renovated, rented them, and then when I attempted to refinance, I was told by multiple banks that for at least a year (2 years in one case) the property would only appraise for what I paid for it.

I bought my 3 buy and hold properties cash, the benefit is speed of closing, which often means a better price and beating out competition.

Crimeso with rents basically 700 to 900 these days.. that same renter IF they wanted to be a home owner is going to look at the highest price thing they can and will not buy in most of those areas.Even though you have say a 50k home if they bought it payment would be 250 to 300 they won't do it.. they will buy the 100 to 125k home and spend the 900.. they like anyone else does not want to live in those areas as homeowners. once these neighborhoods go rental that's it the value is only as good as the rent even though we can value SFRs using cap rates.. the reality is that's exactly how they are valued in those areas.

They are buying houses that you could've bought...

hello, just bought a duplex in Louisville KY it was a commisioners forclosure, now what do i do?

I bought it with an FHA loan and had the sell cover closing costs.

Using a realitor, ins't a contributing factor unless the rest of the numbers say otherwise.What you're asking is the same as asking if I bought a new car with tires, could I get good gas miliage with it?

It doesn't really matter if you own it long enough and bought it for a reasonable price you will eventually make money.

If you do this, you must do thorough DD on the LLC.  10 years from  now the LLC could be sued or a tax or code judgement applied regarding an incident from before you bought it and you'd be holding the bag. 

One I bought last year was so nasty, my agent walked in, looked around, and walked out, telling me that he'd wait for me outside while I took a look, lol.