For it to work for both parties you will have to do a little more hand holding and one on  one involvement than you would for a normal rental.  

You can file a protest to tax values in the Spring. 

Consider if it will truly benefit your tax position, liability protection, or asset management, or if it will just add unnecessary paperwork.If you’re in a state like California, keep in mind that you’ll have to pay $800 annually to the Franchise Tax Board, file a periodic Statement of Information (SOI), and submit a Beneficial Ownership Information (BOI) report.It’s a good idea to consult a real estate attorney to ensure you’re making the best decision for your specific needs.

my property manager asks 10% of total rehab cost, her team will look through the project end to end, without much of my involvement. 

This sale usually involves a monthly payment, which is on top of the rent.

A smarter approach would involve thorough market research, realistic projections on occupancy rates, and understanding that not every location is still a goldmine for STRs.

When a foreign LLC wants to do business in Arkansas, it must register with the Arkansas Secretary of State and pay the $300 state filing fee ($270 online). 

This could lead to significant tax savings, especially if you're actively involved in the management and operations of your properties.Additionally, starting a property management company would allow you to deduct a wide range of business expenses related to managing your properties, such as office supplies, travel, marketing, and payroll (if you hire help).

It took a while, and there were some fees involved, but it was totally manageable compared to what I would’ve paid with an attorney.

you need a judgment first, so first you would need to file a lawsuit to get the judgment then the collection agency will take 1/3 - 1/2 of it. so in reality its not really worth it.