Paying for it on  card for liability protection, getting warranty/insurance work, pulling permits, lien waivers, etc.2)Get deeper, not wider.

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I also believe your management LLC is overkill if liability protection is the intention.  

The best advice ever given to me was to invest in mortgage notes and not the actual real estate...... unless you have the time for value added projects.Know what your end game isKeep an eye on your equity. 

This gives you an additional level of liability protection. 

I'm looking to form a revocable trust to have all my assets in it, I understand that it does not protect me as an irrevocable trust would.

The land represents ~1% of the purchaseOn the contrary - if you purchase a $2 MM shack in manhattan on a postage stamp lot, the land could represent 99%Lever 2 - % of the property with a shorter useful life.Not all parts of a piece of real estate are depreciated at the same speed.Certain personal property assets have SHORTER lifespans in the eyes of the IRS vs the standard 27.5/39 year livesProperties with tons of this often have:- Over-developed land sites (hardscaping, pools, retaining walls)- Fancy Fixtures- Fancy Furniture (STRs!)

My parents live up there, and I'd lean on them to be my eyes/ears.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

You should consult with an attorney in your state to make sure that you are using the best asset protection strategy for your situation.Your budget: The cost of asset protection can vary depending on the type of protection that you choose.