:)General question here: I invest in long term rentals in Memphis, but I live out-of-state in NYC, so I was wondering if anyone had any general advice about starting an LLC in my situation.Would you form the LLC in Tennessee or would you recommend forming the LLC elsewhere?

Quote from @Ryan Kane: Long time follower of BP in Canada first time poster!

I have a long term rental in putnam county.

If you lack the funds to flip any other way, go for it, but do understand it's not a business model for long term success. 

This could reduce your taxable income in those years.Your decision depends on your long-term strategy.

While cash flow is always a plus, I prioritize long-term appreciation as a key factor in building lasting wealth.I’ve noticed that many investors focus solely on cash flow without considering long-term wealth creation.

I'd love to move into another fixer upper for two years so we could flip tax free or live in for long enough to use our FHA loan.

Also underwrite deals as if they were going to be a long term rental and then work up to an STR.

For a long time I have rented it as a section 8 property.

Also, I work with a lot of long-term RE investors and none of them look at ROI.