Since you have a pool and fireplace, it’s essential to include specific clauses addressing the use, maintenance, and liability related to those amenities to protect yourself legally.

Protected class in MA

This gives much better diversification protection across geographies, asset types, strategies, investment subclasses etc. versus putting all the eggs into one basket.The downside is that it's not for everyone, and a person has to be comfortable with turning over control to someone else.

The purpose of an LLC is for anonymity or legal protection.

I used a faucet as an example because that is an item that normally breaks down first and often observe customers walking down the fixture aisle at HD or Lowes looking for the least expensive option, whereas purchasing inexpensive tile or other cosmetic items won't necessarily cause maintenance issues although I would argue will cost you revenue (more on this below). 

In previous crashes, the market out performed class a whereas now, it is initially out performing A, but many economists are for casting a quick recovery for A while B and C take a few years to rebound fully. i think new buyers have to require a higher going in cap to protect themselves.

Based on what I have heard/read thus far, it seems like I don't need a formal legal structure such as LLC for running this is as an active business (but I may set up an LLC for asset protection, which is allowed by my mortgage lender).

Brokers can look at tax records but past that they are not going to do title examinations and date downs again thats what title companies are in business for to protect buyers and protect your title..

The LLC only provides basic legal protection.

We added some custom details to the property to make it more appealing for our tenants as well as manage the property effectively and efficiently so that our tenants always wish to stay residing in the property.