Mortgage insurance is a big cost and FHA's MI cost, both up front and over the life of the loan is exorbitant. 

In NJ, mi have a couple of attorneys tells me I don’t need an operating agreement as a single member as there is no point.

Originally posted by @Amit M.:I

You had asked for a personal viewpoint (my STRs are in southwest MI which didn't make the list), but I wanted to share these results as you research.   

@Aaron M., I grew up in Universal City next to Converse.  

I am a new owner of an existing self storage facility in Michigan.

My STRs are booked in southwest Michigan. 

I am new to this business working on getting a house under contract looking to network all around Michigan

FHA is costly when it comes to mortgage insurance (there is upfront MI and the monthly never goes away, even after it's paid down past 80% loan to value).Fannie Mae has some wonderful first time home buyer products you should definitely take advantage of.Stephanie

My wife and I own a single-family in the north end of Grand Rapids, MI which we have put A LOT of time into to make it our own.