I own property and do interior design for rental and investment properties so I stay up to date from my clients and local events I attend through RE associations and meetups which I recommend.

This post does not create an attorney-client or CPA-client relationship.

Especially #4 about durability.Do you charge your clients a flat fee based on size/price per sqft for your services, or % of spend?  

My last purchase (built 1900) has no closets.

Quote from @Jeff Roth: Hi Lina from Texas-Congratulations on your interest in investing in mid-term rentals and you are wondering how and where to get started.I get this question frequently from investors.Sometimes and investor is looking to keep their property cashflow positive as insurance and taxes have squeezed cashflow by turning units into mid-term or short-term rentals.First off, ideally, the property will cashflow as a long-term rental should something disrupt the mid-term rental model.You will also want to have the property be near where there would be a demand for mid-term rentals (hospitals, universities, research centers).Monthly rents for mid-term rentals are about 20% (+/-) higher than unfurnished similar long-term rentals.There are property managers that will manage mid-term rentals for you and I always advise my clients to use property managers to keep their investment as passive as possible and for compliance issues related to Fair Housing Laws and local regulations.To Your Success! 

This is more than enough to do PML's whether you originate or purchase from a broker is up to you.

On the other hand, with an appraisal near the purchase price, that should be enough in this case.

That's what separates the best real estate agents who represent investor/developer clients.

They pay rent before the due date, clean the property after every client, and if something breaks they usually repair it before I'm aware because their clients will give them bad ratings.

Unless you have a clause in the purchase of the entity that clearly makes you responsible for the entity from the day that you buy it(Indemnification) I wouldn't bother with the LLC.Good luck man. all the best!