Quote from @Havital Miltz: Normally you would set the LLC in the state where the property is.You have no tax benefits for setting up an LLC, it is more a protection from lawsuits and going after your personal assets, however not a guarantee....As a husband and wife you do not need to set up a partnership - IRS has special considerations for married couples for self employment, you could also apply that for a rental...Hope that helpsA joint venture is available to any 2 people co-owning real estate for investment purpose as tenant in common  under Proc. 2002-22 (unrelated to marriage) but it can't be owned in an LLC together. 

I took the 3 day this past October (2018) and feel it was a great course, but it was a "repeat" of a lot of the info available for free on youtube, etc. 

Unfortunately due to the property values, the cash proceeds will be disproportionately impacted by transactional costs associated with the financing (doc prep, appraisal, recording etc.) which will also hurt the available proceeds compared to the same LTV financing of higher value real estate that can better absorb these transactional costs. 

Go on furnishedfinder.com and airbnb.com to find what is available on those sites for a traveler.

I am just starting out and have 1 STR.Would love hear the pros/cons that you took into consideration when deciding how you want to manage your STR.Self managing STR properties, from afar, while maintaining other employment, is only a possibility because of the new technology made available in the last 10 - 15 years.  

From 2020 to 2023, I used a HELOC to supplement my available cash to BRRRR as many single family long term rental properties as I could as fast as I could.

It's available here: Passive Activity Loss Audit Technique Guide

What is your availability for a phone call?

85% LTV is available with at least a 710 FICO and 1.1-1.2x DSCR (not every state though).

Last August a decent pre-foreclosure opportunity came available on the MLS and my agent took us to see the home and submitted two offers below asking that were too low for the seller at the time.Apparently the seller was able to avoid foreclosure and the home delisted after it didn’t sale.