And some expensive ones for larger operations.

and far less expenses during operation.

Very few people operate their LLC correctly and therfore this just gives them a flase sense of security.Moving into a LLC can also trigger the due on sale clause.

Evaluate forming an LLC to protect both parties and outline everything in an operating agreement.

I do NOT think having an operating LLC located in a different state than the ones owned is overkill. 

My core investing philosophy is pretty simple, and has done very well across almost two decades and numerous cities:1) Invest in cities with population (and job) growth2) Invest in parts of the city where household income is near the median (or slightly below)3) Invest in properties that provide cash flow from day 1 Thank you for sharing that. 

Buy a few books, start simple, do your own property managing.

The other unit a hot tub.The unit with the pool and hot tub has been operating as a STR for two years.

Pick solid operators and solid asset classes.We syndicate self-storage projects.

Build a local team for cleaning and repairs to streamline operations.