It would run off my property's well water. 

HI Stephanie,You can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

This is our first time renting out our home on Furnished Finder/AirBnB so we would appreciate getting off to a solid start with the proper lease and ownership structure such as a new LLC for the property.  

However, I keep feeling that we are missing an opportunity to make money off of this house because of the location it is in.

He will frequently frame things in terms of a trade off.

So now, sure, your return is same or similar %, but, off a LOT less $.

It may be a frustrating few years until the area grows around you, but can pay off in the long run.

Operating through an LLC can certainly provide some protection, but many mortgage companies include a "due on sale" clause in their contracts, which means transferring the property could technically trigger the need to pay off the mortgage. 

Any creative ways to pull this off? 

If so then folks could sell real estate, book profits based on the value of the Gold, but log a transaction that was technically a loss (tax write off) based on the face value of the legal tender.