I have a great product where we give you a set line to work with for multiple projects, this way you don't have to keep getting credit pulled and showing assets for each project, the line is good for 12 months. 

However, I am unsure as to what the best type of entity would be to set that up (from a personal liability and tax liability stand point).I've been investing in real estate locally in the U.S. for over 10 years, but this is something new for me. 

I have used a basic registered agent service and set up an LLC.

Your CAP rate will be dangerously inaccurate if you calculate expenses incorrectly so let's break those down.Utility Set-up- As an overview you need to know the difference  between city-provided utilities and onsite such as Septic Tanks with Leech fields, lagoons, Wells, EtcGetting more specific what utilities are maintained by the community, paid by the community vs the tenants.I will give you a quick example, I own a park with a bunch of multifamily manufactured units of which I pay the electricity bill.

Do I need to set up an LLC?

There is no set answer. 

Your question makes me want to check my state rules (Illinois), because I've thought many times that I might as well manage other people's STRs if I have all the processes set up to manage mine anyway.Finding a cleaning crew for 1 STR is difficult, but 5 is easy. 

In a recent post about how to minimize the taxes on rental income it was mentioned that: Setting aside reserves is an expense, so long as they are not excessive.

Unfortunately reality quickly set in when we contracted an engineering firm to start the septic and wastewater plan. 

To me it makes more sense to set up the right entity and then just get the right STR coverage.