But, people in this forum would argue otherwise.

Please feel free to argue if I'm wrong.On the same subject, where would one find a list a people back on their mortgage payments?

Something I would keep in mind is these are not the people to argue with if something is not done properly according to them.

If you filed taxes on that property under ABC LLC you still can issue the K1s and state that there was a sales event.

I would argue that the MOST IMPORTANT factor for success will be a boots on the ground team that knows the STR market in and out.

I see you're after reliable tenants, so I'm not going to argue about the area you're targeting, but make sure you can still handle a bad tenant.

On the one hand, the mentor courses / boot camps / common advice (including many here on BP) is to just set up an LLC but when I've discussed it with professionals, they argue against it.

@Greg H.Greg...I'm not going to argue with you. 

Looks like it didn't make it into 469(h)(5) but hard to argue with IRS Documentation - thanks @Kelly O'Keefe! 

1) With rent control, it keeps inventory low, thus high appreciation for rents.2) Higher dollar appreciation. 3% increase on a $1M value is higher than a 3% appreciation on a $100,000 value. 3) Same as #2 but with rents.4) Because of the above, you could argue that you are generating a higher net worth faster. 5) Expensive markets like LA, NY, and SF can be great for house hackers.6) Because I first bought in LA and then bought a second house hack, I have been able to leverage business partner, HELOCs, and a 1031 exchange and now have 15 doors between four states and I haven't had to put a down payment of my own money (or at least BRRRR and got my money back).