I always wanted independence from an employer, but this was the push I needed to get of the porch and out my head and start the process.I am here to start my journey of financial freedom, where I will never have to worry about anyone  making major decisions that impact my life in a way that I can not control and leave me in desperation.

The shorter the prepayment term has an impact on increasing the rate.4.

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.

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If you want a lower insurance premium, build with block, (or ICFs) and install a 4-12 hip roof to code, with hurricane impact windows and doors, not near the water, or in the wind impact zone. 

Also MTR pricing software might not be effective yet because there are so many variables with properties its hard to truly comp and get an apples to apples comparison (without looking further into the property and the amenities that are covered)For example the pricing software will not know exactly which utilities are covered, how nice the furniture is, term of lease which can impact the rate, other amenities that is not uniform amongst MTR inventory.I recommend manually finding comps on Zillow.

Other things that impact the cap rate can be premium location, newer age for the property vs old building, quality of tenants, etc. 

Do I have any SALT limitations that are impacted since these are not owned by an LLC or do the SALT limitations only apply to primary residences? 

It puts the tenant on notice that the next step is filing for eviction which will create a public record as soon as its filed and potentially impact their ability to secure alternate housing.

The fees are built in so they do not impact the equity you are earning off of.