I’m a first time investor staring out and seeking to acquire my first rental property.

Those that I have seen are usually advertised as short term rentals at considerably elevated rents, but how long are people interested in renting a furnished house like that versus having a blank slate?

If am on the buyer side I prefer a blank RECR, because then everything we find during the inspection is grounds for negotiations.

Hey Ali, you'll have to verify this info as I'm not an experienced investor but I don't believe you need an LLC in the same state as your property.A while back I listened to Michael Blanks Apartment podcast #53 regarding asset protection and wrote down the following notes:"Recommend using a Delaware, Wyoming, or Nevada LLC (they do not disclose who owns the LLC)Delaware has the most experience in litigation b/c most of the major companies have delaware llcs, wyoming has been around the longest and has the most extensive history."

It was a blank check with a 0% APR for 12 months with a 3% fee and the minimum payment was 1% of the balance.

Then get Michael blank SDA course and look at getting your real estae license. 

MLS might have blanks set up as well for you to print out and use, you most likely will have to hang your license with a brokerage though.An attorney may also be able to provide you with some of the contracts needed but you may have to pay for them.

I leave the number blank because to Account Closed.

For more information check out a couple podcast such as; Apartment Building Investing with Michael Blank, Best Real Estate Investing Advice Ever with Joe Fairless (Fridays are called "Follow along Fridays" - Very detailed on underwriting), and Lifetime Cashflow through Real Estate with Rod Khleif.Good Luck.     

I have a blank version in PDF format if anyone would like it, just send me a pm.