As @Brett Synicky suggested, keep it simple, as a sole proprietorship.You are also not considering that you will have to pay $800 per year and per LLC to your greedy state.In short, get some professional advice instead of TikTok advice.

I’ve been investing for many years and had a few loans transfer previously but this year I’ve seen a huge uptick, any idea why?

I’m all for getting started and primaries make good rentals when only held for a year or two before they’ve had time to appreciate.

I live in NYC and started investing in Buffalo a few years back, mainly for the reasons that you mentioned. 

I am looking to learn about the industry and set a goal of making my first purchase this year if it makes financial sense. 

Imagine you make $100k and you are affected by 3 tax brackets.0-33k =-33K 0%33,001-66k 10%66,001 - 100k 20%You can take $100k in deductions this year and pay zero taxes, for one year and then $10,100 for for 2 years  ($20,200 total)You can take 67k in deductions this year and pay zero taxes for a year, take 33k the second year and pay $6,800 year two and $10,100 year 3. ($16,900 total)You can take 33k each year and pay $3,300 in taxes all 3 years. ($9,900 total)Obviously this is simplified but unless you expect to make much less and be in a lower tax bracket in the future those deductions could come in handy.

Recapture typically happens only when you sell the property.If you use the property partly for personal use and partly as a rental in a given year, depreciation and other expenses must be prorated based on the number of days it was rented versus personal useBased on the current tax laws and regulations, once you've taken bonus depreciation on an asset, you cannot "capture" additional bonus depreciation on that same asset in future years, even if the rates increase.In the 2024 tax year, the rate for bonus depreciation is 60%.

After graduating in 2015, we moved to Oahu, where she completed a one-year AEGD program.

That is some remarkable appreciation in 2 years, bravo.

At that point prices may drop but that could be over a year away yet.