Hi Preet - Great questions and I'm sure there are some folks that may be able to provide some more concrete yes or no answers but my sense is that you may not be able to realize a lot of tax benefits if the value of the thing you are describing isn't very high. 

Nothing is being added in its place, they just want "less units" which provides more open space.

Remodeling costs increase the property’s basis, while post-rental repairs are deductible expenses in the year incurred.An LLC isn’t necessary for a single rental but can provide liability protection as your portfolio grows.

It is also helpful because we are Realtors and real estate investors and it provides a cushion for months that are leaner than others.

That doesn't seem right about having to chase your money - but would need a lot more info to provide a better opinion. also are you investing in one property and is your name secured or you giving an unsecured loan? 

If you control how they perform tasks, set their hours, or provide tools, they should likely be a W-2 employee, requiring you to withhold taxes and comply with payroll regulations.

Ideally you can provide something extra or unique that you can highlight in your photos and description to stand out. 

Thanks in advance for any insight you all might be able to provide!

You don't provide enough data to know.Every product is only worth what you are willing to pay for it. 

They often provide standardized lease agreements that comply with state and local laws.Additionally, many landlords use platforms like Avail, Zillow Rental Manager, or TurboTenant, which often include customizable lease templates that are state-specific.