Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

Don't expect to extract the greatest value obviously, bc there's a few extra hands helping you, but you also won't be completely on your own and they build in extra value/incentives that comes from being part of a group. 

Put up signs to let them know cameras are in the area and let each tenant know that you put up cameras for extra security and that they are only in common areas.

So I’m trying to figure out if paying the extra 200k for a 3 bed is even worth the investment since annual gross is so close.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

I am happy that I did the "extras" because I get to enjoy them now but the ROI is not there.

I have not set up a trust--mostly because it seems like a lot of extra work and expense but mostly, I don't know the benefit of the trust in ownership of an LLC.

My title company handles my 1031's for me with no extra charge outside of the closing fees. 

Its looking like we will be doing it in Virginia to make things easier, more straightforward and to avoid the extra taxes.

We used to charge an extra refundable pet deposit added to normal deposit for a pet, but once the ESA online thing got so ridiculous, we just raised our security deposit requirement across the board so we're more protected even if someone has an ESA or tries to get an ESA once they move in.