Hello,This is Not Legal or Financial advise by any means.If the property/properties are going to be in Michigan it might make sense to form a Michigan LLC and if you really want to get fancy the Michigan LLC could be owned by a Wyoming LLC.

I'm looking at the pro-forma on an offering memorandum and the taxes are based on the purchase price a couple years ago/assessed value.  

Would it be best to form a series, I'm still on the fence ...

Their pro forma rental numbers are $300 over the rental comps I ran AND the property is fully occupied.

This would indicate likely cash flow, but still run a more accurate pro forma using an established calculator (BP has some that are OK, but make sure you allocate enough for maintenance/cap ex).Get an inspection. 

It’s a FB group for MA folks.Best of luck!

Pro Forma- they estimate future rents at the top of the market2.

Items missed: ADU cannot be STR in most jurisdictions, no vacancy, no cap expense, no management fee (include it even if self managed because it is work), 3% maintenance ($420) may be a little light for 3 units in San Fran labor rates, my pro forma is currently showing 0% appreciation in the short term due to recent rate increase.  

have become expensive and will eat into your pro forma if you don't do some homework. 

The real world operating expenses are always higher than pro forma, and costs are increasing now, especially insurance.