I'm here in Orlando too and have helped dozens of B.P. members purchase STR here.

If someone were to slip and fall or otherwise hurt themselves at one of my properties  due to a premises liability issue, the plaintiff's counsel will file a claim against the deed holder regardless of whether I am incorporated in PA as a single member LLC or through an entity structure utilizing LLC's from states that may have better privacy laws, the deed holder entity is layered or any of the other strategies often discussed in these forums. 

Also, the state of formation is likely where internal disputes would be brought among LLC members, so if you and a partner and/or spouse live in CA, you probably want to arbitrate in CA if the two of you had a disagreement.

I'm a technical trader working with a community of over 70,000 members.

If you have any questions or want to talk options feel free to reach out I always enjoy helping Bigger Pockets members save time and money.  

You can't rent it to family members either.

DSCR loans allow lending to LLC's, but the LLC members will likely need to personally guarantee the loan.

It is important to note that my business partner is a family member and we are aligned on pursuing whatever strategy is most optimal for our main goal of acquiring as many properties as possible collectively, regardless of ownership percentages on paper. 

It really depends on your specific situation.It's good you're thinking about the operational and bookkeeping component for your financial account structure to make things easier on yourself and any financial team members you have or may have in the future.You're ahead of the curve!

There is a great group of members on here to connect with.