@Sarah Taylor From a tax perspective, you would lose the STR tax benefit if you expect paper losses from the property.

Too many landlords think locking in long leases is to their benefit, when the reality is that it's mostly to the tenant's benefit. 

The income tax may be written off anyways and I benefit from the lower property tax rate.You bring up some solid points.

Great post it gives insight to how you worked the systems and benefited.

We're trying to decide between forming the LLC in Ohio or Wyoming.We've heard Wyoming offers stronger anonymity with lower costs, while Ohio might provide specific benefits for in-state real estate.Can someone please elaborate on the advantages and disadvantages of each state for our situation?

Costs will be far lower, but an owner/operator would still get the benefit of staffing and material efficiencies. - You could consider owning those as rentals and leasing out to the businesses. - You could sell the land to an owner/operator who wants to build assisted living. - You could own and operate those yourself and just hire great management or bring in a management company. 

What is the benefit of this shared LLC?

Each strategy offers unique benefits, and it's essential to plan for seasonal fluctuations and consider cash flow vs. appreciation.Good luck!

I also have consulted numerous local officials as well as HUD in DC.

@Jonathan TiradoReal estate investing is a viable side hustle for full-time professionals, offering a flexible schedule and tax benefits.