STR inverstment near Chicago

[Madheshwaran R.]

Hi, I am a newbie trying to purchase an STR property and hoping to save on my taxes from my W2.

Could someone please help me understand what type of loan is best for my situation? I thought of getting a commercial loan or getting a loan through an LLC. However, a loan officer suggested getting a vacation home loan, then transferring the property to an LLC. If the interest rates come down, I can transfer the property back to my personal name, refinance, and then transfer the property again to an LLC or trust.

Second and most important thing, I would like to get an idea of what type of property to purchase that best suits for STR in Chicago area , near by states like WI or MI also I am fine as long as it is closed to Chicago.