You are so right about analysis paralysis 😁Not too concerned about mechanics though I would like to learn more about how to best use CRMs (specifically freedomsoft), but also would like to learn specifics regarding forming LLC structures and tax strategies 🤔

You also don't have to pay state tax on income. 

An annual business tax as a hotel of $50 and collection and remittance of transient occupancy tax of 12% from renters is required of all short-term vacation rental operators.

A couple developers we work with skip LIHTC and the tax credits and go the route of impact funds to help alongside other debt and sometimes equity. 

Most places in Ohio can be profitable rentals... if you can stomach those property taxes!

Check with your municipality about how property taxes will change when you buy the place.

However, before you do so you should ensure that your revenue from rental income covers ALL your property expenses in the townhome, including mortgage, taxes, insurance, maintenance/repairs, vacancy, property management, etc...

If you need an LLC for tax reasons later, you can move title into an LLC later for a couple hundred bucks.

I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require  PMI which is an additional expense, and you also need  bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.

Hi Everyone,I  am a professional wholesaler and property locator, I locate property on/off market, do a full due diligence on title, encumbrances, taxes ect...