I have changed my rental strategy to short-term rentals and co-living (rent by room) to allow for more cash flow. 

This was a turning point in my life.

Just like most things in life there are good and bad to both choices. 

Six of them just launched this year, so I wasn't expecting distributions anyways.These syndications have change life. 

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If you are limited to those areas for residency, and you choose to keep that job, you are going to have to either a) wait for a couple years and save up a heftier down-payment, b) change your strategy like you said and go for houses further away (do flips, STR or BRRR).Or, if you are sold on the house-hack concept, at some point you might have to look at a different job that allows you to move where house-hacking will work....

Don’t forget to plan for the future, maintain a healthy work-life balance, and celebrate small wins along the way—it’s all part of the journey!

An LLC by itself does not change anything for taxes.

Or does it matter (can we create one in Colorado)?

That’s life, things happen.