., income, credit score, rental history) to evaluate applications in the order they are received.Notify Applicants: Let each applicant know you will process applications sequentially and explain your timeline for review.Act Promptly: If the first applicant meets your criteria, move forward with their application and provide them with a clear deadline to sign the lease and pay the deposit.Move to the Next: Only if the first applicant does not meet the criteria or declines the lease should you proceed to the next application.By focusing on one application at a time, you simplify the process, maintain transparency, and mitigate any potential fair housing concerns.Lastly, since housing laws can vary by location, double-check Arizona’s landlord-tenant regulations to ensure compliance with any local rules about how applications are handled.Best of luck with your rental process!

This might be a question for our insurance broker/future attorney, but wouldn't the LLC be formed in Indiana since the rental property is located there (versus Illinois where we will be living)?

Instead, create a landing page tailored to your audience with a clear, irresistible offer, such as:"Get a Free Price Comparison Report for Bulk Orders in [Industry/Location].""

If you buy in a prime location with desirable amenities, you’re setting yourself up for steady income and long-term growth.

If you keep it as an investment property, a lot may depend on your location and condition.

What state is the property located in? 

Quote from @Trent Reeve: Quote from @Don Konipol: Quote from @John Brown: I have a friend with a property in a very desirable location in Texas that I believe would be great for STR.

For example college rentals generate some of the highest ROI of properties I come across in New Jersey but it depends on the school and location of property.

But, regardless of the location, Hawaii always has been and always will be a popular, year-round tourist destination.

There are a lot of good things about Wyoming LLCs, but the favorable Wyoming laws don't matter as much because the state you are in will apply the laws of the state the property is located in.