I would like to interject, while data drives decisions, one of the first things I'm looking at is the location and surrounding area. 

You pay a bit more, but you get exactly what you want and don't have to worry about maintenance for a while which is obviously a savings.I live in the Woodlands, so considering the location of my home and rental property, I'd ideally like to build this in the area of The Woodlands, Conroe, Spring, Tomball, Klein, or Cypress. 

There will be an auction in a couple of weeks of properties located throughout Monroe County and I want to take part.

Two identical homes located next to each other would come up with the same value, even though House #1 was just renovated to a very high standard and House #2 hadn't ever been renovated since it was built in 1949.I always tried for an identical (or nearly so) beds, baths, sq ft of living area, garage and acres. 

I havent looked into it, but the location is solid.

Be sure to tag your post with the location so local folks can reach out to you. 

However, I run an online business, so I do not really have any location constraints.

When companies consider new locations, they look for specific factors:Population over 1 Million: Companies need a large, skilled workforce and robust infrastructure.Low Crime Rates: High crime deters businesses and residents.Low Operating Costs: Companies seek locations that allow them to remain competitive, avoiding areas with high taxes and regulations.Low Risk of Natural Disasters: Companies are wary of areas prone to natural disasters that can disrupt operations.

However, I have contacted the Secretary of State office and it states on their website that there it is a one time filing/fee to form an LLC there.You will typically want the LLC setup where the asset is located. 

@Luke FrugeHello - just curious - why not invest where you are located?