Right now as hot and low inventory as we're seeing in the market.

Inventory is down 42.5%.

The laws for LLCs are slightly different in each state, but, in GA and PA, I disagree that there are little to no tax benefits for forming an LLC, but, in this circumstance, it sounds like you don’t have the inventory just yet to realize the full benefit.

https://www.cnbc.com/2020/08/13/empty-apartments-in-manhattan-reach-record-high-topping-13000.htmlThe number of apartments for rent, or listing inventory, more than doubled over last year and set a record for the 14 years since data started being collectedWhile hundreds of thousands of residents left the city in March and April in the beginning of the coronavirus pandemic, brokers and landlords hoped many would start returning in July and August.July’s weakness, and what brokers say is already a slow August, suggests that Manhattan’s real estate and economic troubles could extend well into the fall or beyond.As I wrote about many times earlier, the migration from expensive city centers to more luxurious suburban / rural settings is solidifying.

The IRS vies those properties as inventory and when you sell you can't use the 1031 exchange.

You can wait until the market cools a bit and inventory increases (which could be a few years from now) or partner up with someone and acquire bigger properties with higher unit counts in order to see a better rate of return 

For example you can purchase a newer 3 bed 2 bath 2 car garage within 10 min of downtown for $280ish and rent it for $1650+ and since we are dealing with record low (less than 1 month supply of for sale product and 3% rental vacancy) inventories we are seeing near double digit rent growth. 

Depending on how much it would cost for the rehab, inventory, and market, there may be better returns on the 3 bedroom. 

We are seeing better than usual applicants for our available apartments due to the lack of inventory. 

The different reasons for being a B/H investor will significantly influence your ideal inventory.