It might not be easy finding a "good deal" in your range, but there are a lot of properties that support your model, basically rowhomes shared with other students or young professionals.Keep us posted.

Account Closed I'm new to this game and have basically zero experience, but I did stay at a Holiday Inn Express last night so....I've been doing a bunch of research on the long term population and economic trends of all the major metro areas and I have to say that Raleigh's profile is stellar.

Basically learning how to find what makes a property valuable. :) Can I be included in the group .

@Bryan Thomas IF properly maintained, slate lasts a long time...it's stone...the one thing to be aware of is that slate roofs are not "decked"...they use a series of wooden slats that the slate basically rests on.

If you can reduce the Heloc payment with own capital etc you increase your cash flow even more, but remember if you are using 100% Heloc you are basically buying this house with none of your own money, so your ROI is infinite.  

Investopedia has great videos that describe concepts for beginners.

The basic necessity's.

Electrical needs complete replacement (wiring, electrical box) but the house has newer roof and appliances (heating and water heater are recent), and the plumbing looks recent, which is all surprising given the state of the rest of the house...It's basically a roof and a brick frame with appliances.

It will familiarize you with the basic terminology and benefits.

It all depend what each LLC is doing.If LLC B owns property in State  and receive rent in state B, it only needs to be registered in state B.If LLC A is just a holding, not doing business in state B, but just owning LLC B, it does not have to be registered in state B.The concept of using a holding LLC is multiple.First as you described, if state B does not give you anonymity, you can get the anonymity of state A by having LLC A listed as sole member of LLC B.Also, and it is probably the most important point, if state B does not have good charging order protection for their LLC, you can get the excellent charging order protection of state A protecting your LLC B for outside liability.Delaware and Wyoming are two very good state to get your holding LLC in.