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.

Given the latter costs, a corporation can be the best solution only if you buy multiple properties.

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

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

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

House hacking with an FHA loan is a great way to minimize living costs while building equity, or you could invest in an out-of-state rental for steady cash flow.

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.

Once you go with a minimum 6 month lease your turnover costs, potential damage, make ready costs, repainting and repair costs, all go down dramatically.  

Do to the state mandates that require 100% reserves in all categories, combined with the rising cost of their neighborhood insurance policy, my strong recommendation is you find out what further anticipated spikes in association dues & if any possible special assessments are looming.

We want to detail the responsibilities, capital contributions, profit and lost sharing percentages, decision-making process, have dispute resolution methods, and exist strategies.