I wouldn't recommend setting up an LLC out of state if you are buying in Tennessee unless your tax advisor is looking to help you on strategy.. but from a numbers standpoint, it really doesn't make sense when you start adding up on all of the annual LLC reporting fees from different states and then it starts cutting into your cashflow.

In addition, some states have different regulations tooI'm sure that someone that specializes in Insurance can give more insight into what is and isnt necessary or best for our properties.

Hey @Kyle Nikolich - You'll get many different answers for new construction costs. 

Each corporation runs differently so some are easy to deal with and some not so much.

I have a HELOC on my Texas primary residence and am considering a house hack for my next purchase.

I have a primary home and a rental near Portland, OR.

.- Standardized Renovation Models: Establishing a clear scope of work for different property types can help manage costs and reduce unnecessary decisions.

But it goes to show everyone reading this that marketed projected returns are often the primary metric many investors look at.  

Sometimes, different lenders have different approaches to rental income calculations!

If you have other money besides the 20K then this is a different story