My wife and I also invest in STRs and I spend a lot of time working over the best place to buy our next property.I've been looking at Packwood recently for a client.  

If you're financially stable, have an emergency fund, and have a buy [box] get into the trending C class neighborhoods and buy value.

If you’re looking to buy and hold and get all 3 benefits that’s the way to go.  

We can buy the house for maybe 125k and he estimates 120k in renovations.

2) Can we not pay anything if buy 2nd home in same LLC?

But it feels like if you keep cashing out equity on your properties to buy another, you end up with multiple properties but with your equity stretched really thin, like a house of cards ready to collapse. 

Quote from @Christopher Lynch: I recently watched an episode of BiggerPockets where the guest discussed how he started a real estate investment company and buys commercial properties with 0% down.

Our Goal - buy this property with little money out of pocket.

Quote from @Garrett Cuppels: spent $15 on a book about Airbnb rentalWhat book did you buy?

Buy and large I manage these rentals and we think of it as my side venture, not his.i already have the LLC but my tax guy won't file the rental in the llc because he says I need more than one rental and probably a Different kind of business entity.