Hello James.

Quote from @James Carlson: @Nicole LockwoodNo real distinction between buying an STR property and just ... buying a property in general.

Quote from @James Carlson: @Jo Bautista If what @Russell Brazil says is true, then midterm or longterm are your options, and in that case, I'd consider self-managing it. 

Also, you had better maintain the LLC properly or it provides no real asset protection.If properly managed, an LLC can provide more asset protection, but your first line of defense will be managing your property well and the second line of defense is good insurance.If I were Jeff Bezos, I would not put a property in my name because it would be a lawsuit target. 

Most folks are just rrying to weasel so support is defensive by default. 

Quote from @James Palassis: I am not able to deduct depreciation on my rentals due to my AGI being too high.

Quote from @Eric James: When prices increase well above inflation (Case Shiller index) they adjust back down.

James,  You have been given solid advice, but I will add my input.

Quote from @James Hamling: Your over thinking it big time @Loren Martin.If doing LLC thinking it's going to give you some magical iron curtain of protection, I suggest you read MN state law regarding entities and how state considers them.

Quote from @James Carlson: "Prices are too high."