Hi Kenny-Great question about whether you should put a house you plan to live in and rent out parts to others in an LLC.Certainly putting it in an LLC would help with asset protection and limiting personal liability.However, you may lose the ability to claim the part of the house you live in as homesteaded tax rather than the higher non-homestead investment property tax for the entire property in an LLC.

They aren't just buying to buy and lose money.

I'm not a huge fan of paying cash since you lose liquidity. 

And it could cost many, many thousands of dollars in legal to eventually win or lose.

For all three clients the emphasis was on a second family vacation home with the ability to offset costs through STR.

I doubt switching to a different property at 5% down will leave cash flow negative as well but you’ll lose closing costs on both ends from your equity.Selling before 5 years is typically a net negative unless you are flipping.

But you will increase costs in regards to insurance or lending..You still risk losing the property to any liability that happens at the property or in your personal life.

You'll save on realtor's fees.One thing to remember is unless you are flipping, selling a rental and buying a new one frequently is going to lose you money. 

Flooring can be a basic vinyl or even a DIY job using peel & stick flooring.Expensive materials is more risk for the landlord because when they get damaged there is more likelihood you will lose money on the deal because collecting damages exceeding deposits if difficult.

You can earn a big payday when you research and make a sound investment, but you can just as easily lose big if you don’t know what you’re doing.