Hey Megan,
I'm not sure if this will help you, as I do not know a lot about Airbnb arbitrage. I'm a local small-small-time investor in Tallahassee. I would start looking at an area that you are familiar and comfortable with, somewhere you lived or currently reside in. (In my opinion, the best area in Tally for Airbnb is Midtown or close to the campuses, but if you are looking at other cities, I would check out Tampa or Orlando.) If this is your first and only investment property, I would not recommend an LLC at this time. Eventually, as your portfolio grows then, an LLC will be beneficial at that time. An LLC simply makes it a little harder if you were ever involved in a lawsuit to allow access to your accounts and assets. It's like locking up your house and car, it makes it harder for burglars to get in, but they still can if they want to. Insurance will increase as will interest rates if this is an investment property and not your primary home. I think many investors will be seeing 6% interest rates soon if not already in the next few months. If you live in Tallahassee you should come to the next meet-up! Take care and best of luck
