There are a lot of thorny issues associated with this transition back to independence.

As a result, if you decide to setup an LLC I would recommend CA if you are a CA resident, operating LLC from CA, or own rentals in CA.

I'm in the greater Boston area and I wasn't able to fully live for free but I was spending about $700 on my unit.

I used to live in Bellevue, when I started investing in Cleveland area, I also went for BRRRR, I was a newbie, and it was hard to pull off.

Our rehab cost estimation comes from researching the area and talking with local investors that have similar properties. 

Make believe you are a passive investor.

Quote from @Fernando Martin-Gullans: Hey y’all, I’m a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I’m not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC).

There are a few concerns that made me question going through with it, but I have a few contingencies for backup if anything goes wrong.

Your plan sounds feasible, but there are a few things to keep in mind:DSCR Loan Flexibility – DSCR (Debt Service Coverage Ratio) loans are designed for investors, meaning there typically aren’t occupancy restrictions like conventional loans have.

We live in this area and it seemed like a great opportunity with the margins How did you find this deal and how did you negotiate it?