We plan to turn our current house hack into a long term rental. We just discovered a crack in the concrete slab foundation that is a borderline major problem:- It is a vertical crack about 1/8 inch wide that is at lea...

You cannot get any meaningful answers until you specify what is your "side gig", how much money it's going to bring and how much expenses it's going to incur, and what kind of expenses.And, as a rule of thumb, unless you clear $50k after all expenses, you probably will not benefit from any entities tax-wise. 

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Not bad, but a lot of work and hard to find a specific expense if I can't remember it when I'm categorizing the expense a week later in RH or something.  

They used the income to cover expenses and reinvested into a second property in San Antonio two years later.

What’s the purpose of using the LlC other than to make it harder and more expensive?

1) As an agent put 3 more under contract this month for going into 20252) Cut internet and car insurance bill down3) Start prepping for tax time, organize expenses yay lol

We see a lot of success in the suburbs:Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

they're often much more expensive than they appear because they have deferred maintenance that has been adding up over decades. 

While doing all these things minimize your expenses and save as much of your income as you can.