For me personally with the lessons I have learned - I would build capital before buying anything to hold / flip.

I like Bruce's idea - I own an old house, built in the late 30s.

Ability to write our own contracts

My wife and I are interested in buying our next rental property, particularly a SFH and we plan to rent by the room, and possibly go through Padsplit and rent by the room.I own a duplex from before our marriage which is rented out on both sides and she owns a townhouse from before we got married that were currently living in.

You might decide that you absolutely want to own your own residence there and I assume you can afford it since you already own properties elsewhere, likely in beautiful Hawaï.

Quote from @Scott Cash: I'm part of a three-member LLC that owns a $10M commercial property outright (each holding 33.3%).

I also have my own portfolio I've been managing for 10.

Hire an accountant—but maybe not for $6,000/yearA real estate tax pro can help you save money, but $6K a year is way too much unless you own multiple properties.

However, transferring your current home into an LLC may affect financing, as most traditional lenders require it to remain in your personal name for a home equity loan.

We own several residential homes in San Diego that we only lease to operators of care facilities...They make amazing tenants if set up correctly.