There are some benefits to having an LLC on reduced liability, but there are more expenses. 

No you won't benefit from the tenant paying down your mortgage or the house appreciating, but you also won't have to deal with tenants, maintaining the home, etc.

In addition to reviewing the numbers, take time to tap into your intuition (through meditation or other method) and your gut will help you make the right choice.

Also, I have heard about the benefits of having an LLC set up to manage rental properties but not sure if this is advisable at my stage (e.g., not a lot of properties to manage).

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

Feel free to private message me with any additional questions.

In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

I'm just here to note that an LLC does not offer a single tax benefit, nor does it allow any deductions that aren't allowed without an LLC. 

Speeds are all over the place just about any time of day.Rural areas can benefit from this but if I could go with Starlink, I would do that instead of a 5g modem.

(aka the BRRR method).But, if you stay on the sidelines, acting fearful and not greedy, you will reap the benefits of neither.Again I do think we see an early pullback in 2025, in the first 100 days.