It does get complicated when you buy the seller out because even on a cash out refinance you will always be maxed at 80% cash out for a primary and 75% for an investment.

Maintenance is key to maintaining long term tenants in the property and avoiding unnecessary turnover.

Running the heat is not nearly as costly as flood damage.You winterize by (at minimum) keeping heat on and draining exterior and unnecessary plumbing.

It’s a complicated property.

I'm personally a fan of C-corporations, though they are also complicated.

Managing a rental property long distance is not for everyone, especially while pursuing a master's degree, and can add unnecessary stress and complexity to both your lives.

So effectively I would gain a 10% tax advantage by paying my LLC to property manage vs just taking the profits as personal income.I'm sure things get much more complicated than this, but could anyone confirm is this basically the gist of it?

There are some complicated rules regarding the circumstances in which you can qualify for the STR deduction against your W-2 income. 

I'm attending my first meeting on Wednesday couldn't be more excited about soaking up RE knowledge and meeting teams and individuals who are active in my market  Keep it simple, so many make it more complicated, its just numbers, BUT you need to know them 

Im always left wondering why agents dont offer guidance in complicated situations.