If there’s a laundry list of items that need to be fixed, I would recommend starting with the ones that will return you the most money.

You won't be able to find a property manager to deal with a house in a "high crime " area and the laundry list of issues that come with it.

So to play in MFH in same market of opportunity means paying nose-bleed prices against other buyer's with no concept of cap-x, and having to compete against brand-spankin-new builds looking all shinny and with there assorted amenities like Top-Golf arena, pool, dog washing station etc.. 

Maybe compare real estate to owning a restaurant, or a 7 eleven, or a public washing machine place.

It may lend you a little privacy, but folks who want to find you will just look up who created the LLC and then find you.That being said, in MO, they are incredibly easy to set up, and are not that expensive to establish (~$50 last I checked, although that may have gone up) and doesn't require any input from an attorney or tax professional (in my state)Personally, I have an LLC bc I pay myself through an S-Corporation as a realtor...the savings come out in the wash, but it allows me to pay taxes quarterly and avoid end of the year surprises.Another reason you may need an LLC is if you are investing with partners, and/or seeking certain loan types ( I know hard money lenders often require an LLC)Once again, this isn't my wheelhouse, so at the end of the day, I would reach out to a tax professional to learn moreLong answer short: in my opinion, you do not need an LLC if your plan only involves renting out your inherited home

I could have washed out like most teenagers..

It took a year of washing to get the color right, and remove the stench!

Building off of what @Daniel Duku the main thing you would want to check for which you can via atlas is if the land was used previously for an auto shop, laundry mat, or something where you would need to get an environmental report.

Some of the units have an in-unit washer and dryer (or we have a laundry room in the building).

You can rent it to yourself, but then you would also have to declare that income, so it becomes a wash and not a write-off?