You can spend as little as $100 to form an LLC, or you could use an attorney and spend $1,000 or more.

If you spend time learning how to manage well, your income will increase, you'll save time, and you'll maintain your sanity with the courage to expand.

You will also quickly learn how to manage properties well instead of spending decades figuring it out like most investors.

IF you plan on going back someday, and this is the home you want to move back to, then renting it would be a good idea as long as you estimate that it will cover itself, or preferably, cash flow, which it appears that yours will at @ $2K or so per month (after expenses). 

I spend $90 a month for one LLC, and $50 for another.

Quote from @Sofia Komrskova: Don't spend that kind of money on courses.

I plan to negotiate the rent and I want to present my proposal to show how I’ll manage the property responsibly.

I just meant to say that it's our next goal to build that up, having just gone on a spending spree on fixing up both properties in a short period of time.

For your out-of-state BRRRR plan, building a strong local team in St.

I did not want to spend 50K on doing separate meters for where I have my rentals it would cost me this much.