An LLC is potentially one minor factor that might contribute to the evidence that you are running your rental activity as a trade or business, but it's definitely not required that you have an LLC to qualify.

Obviously some potential issues with the lender, but how often do these deals really happen?  

Laundromats are open to the public, and if the local neighborhood has a high crime rate and transient population, those can be potentially expensive problems that can affect your business.

Once could purchase the land (and potentially other land/real estate in the future).

Plus, Memphis has been seeing some positive neighborhood revitalization, which could lead to nice appreciation down the road.Of course, all the markets you’re considering—Dallas, Austin, Houston, Columbus, Cincinnati, Nashville, and Las Vegas—have their own unique advantages and potential.

My strategy is to hold it long-term, leveraging the steady rental income while benefiting from potential appreciation.

Even with trump's aggressive plans for mass deportation and border security, I also have to think long term about future presidents' agendas towards border control too, and anticipate potential presidents being more loose on border security.

Focus on STR-friendly areas like Newburgh or Highland Lakes, and use platforms like AirDNA to assess revenue potential.

- The increasing cost of damage repair and potential mold growth

My wife and I are hoping to buy another single family home that is bigger sometime in the next year for our new family and potentially rent out our current home to tenants.