As far as LLC structures and tax strategies you should find a CPA who has experience with real estate and small business.  

I have sold a couple of businesses as well, and speaking from experience, you are never more vulnerable to make a mistake than when you are sitting on a giant pile of cash.Also, I agree with @Corey Conklin - I'm a big fan of "overflow cities/towns" in the sun belt.

And even if I do not get into the renting business I can make some profit if I decide to sell the property at some point.

Quote from @Matthew Paul: I understand how businesses work.

If your state is an expensive one it might be cost prohibitive to have an LLC for a small rental business.

We have been in Business since 2000, survived the 2008 collapse.

However, they let me go in July 2023, so I’m focusing on growing my real estate business.

He became a contractor, worked hard, and grew a successful business that produced a lot of money.

And even if I do not get into the renting business I can make some profit if I decide to sell the property at some point.

There are also a large number of accountants we work with who say that as long as it is done at arms length as a business like transaction then they are fine with it.