Over and over, you can be constantly evicting and replacing appliances and doing major repairs.

I know, you have “repairs”already.

Make sure you have some money set aside for repairs and turnovers.

Not only can you deduct mortgage interest and property taxes, but you can also claim deductions for property repairs, depreciation, and other expenses related to maintaining the rental units.Learning While EarningHouse hacking gives you hands-on experience as a landlord while you continue to live in the property.

The owners died, lots of heirs and no one wants to put up money for repairs, taxes etc when they only own a small %.

If the entire home is rented out then there can be some incentives to fix things like some big repairs such as roof, windows etc.

My research guided me to form an LLC to hold the properties during repair/rehab (I am buying properties that need major fixing) and move them to another LLC where I will be collecting rent. 

It's not the same thing.If you have $130,000 in equity, I would not use any more than $65,000 on a new property and $15,000 of that should be held for reserves so you would have $50,000 for downpayment and closing costs really.Unless your rental property is new construction, you don't want to max out the equity in case of large repairs coming.

It may be worth the investment if you decide to do out of state to eliminate any potential mishaps when it comes to timely repairs if needed. 

The 70% rule suggests buying a property for 70% of its ARV minus repair costs to ensure profit.