Hi Hadar, as others have mentioned, if you have the finances, purchasing your first investment property with cash could be a better option.

Should have mentioned this is on my personal residence. 

I think someone mentioned earlier, it all depends on conditions and competition where you are.

House rules, meeting requirements, and chore's to mentions a few. 

This leaves the other options I mentioned -> STR that meet IRS requirements and #3 from the list of material participation above, but it will be tough to prove that no one other individual spends more time than you do since this is probably not true. ...

And when I mentioned Detroit on BP I'd be ridiculed.

I’ve heard this one mentioned as a good investor resource.  

As mentioned a few times, whether you want to be active or passive is the first question to ask. 

The neighbors also mentioned that "he is well known around the neighborhood for sleeping in vacant homes and has already burned down 3 of them." 

Also, the LLC does NOT eliminate any personal liability on the next loan application which is a popular selling point by ill informed DSCR brokers on this board (but they rarely mention the higher financing costs that come with financing in a LLC) IMO, proper insurance coverage is a better choice.