Was going for the best cost-of funds (lower rate)

The marketing functions is where the very host cost comes in.

.- Expected renovation costs $1MM.

More work, more time but you can take advantage of a nice cost segregation / bonus depreciationThis is the truth! 

I had a client who kept waiting for a better rate, only to see it jump 0.5% overnight costing him thousands.

If you do find that the costs to maintain the investment property are too substantial and you'd rather sell down the road, it would qualify for a 1031 exchange since the property was held for investment use.

Attorney’s Fees; Collection Related Costs; Jury Waiver.

If you paid $950k and only get $1M after selling costs, don’t bother with the 1031.

I don’t have any horror stories but every time I go to run a check the cost has gone up.

If you no longer have business operations in the old state, forming a new LLC in the new state and dissolving the old one may simplify compliance and tax obligations.Some states impose franchise taxes and annual fees that could make one option more cost-effective than the other.