I don’t know any attorneys that don’t own property in LLCs.If you do go the LLC route one per property is generally overkill.

Without writing pages and pages, I will just say this.For many, an LLC is overkill.

Anderson Advisors know there stuff.I have a Wyoming LLC that owns a trust that owns an property in TN.It's as protected as it can be but probably way overkill.

For example, we're having to get easements in place with a neighbor to establish electric and you should include a soil inspections as part of your due diligence period to make sure you can place septics (check with the county to see if you can tie multiple units into a single septic or if they have restrictions around this; our county is relatively lax, but does require each unit to have it's own septic system; really overkill for tiny units that is going to add a decent amount to our bottom line).

I recently acquired a single short-term rental (STR) property, and so far, it's been a smooth journey with four successful guest stays. During this time, I've managed the property efficiently, coordinating with my cle...

Personally I would say complete overkill.

I have experience with contracts and will be writing a legal agreement between us (Overkill maybe but I want to get in the habit of doing things right early on) so any tips on what needs to be included?

Your "min real estate set up " is way overkill for most of the country.

Also, is having the borrower fill out a residential loan application form 1003 overkill?

Although I am no expert, I feel like at this point an LLC might be a little overkill.