When looking at an LLC, or any entity structuring, there are two angles to consider: tax benefits and asset protection.I frequently see asset protection lawyers recommend an LLC for each rental property owned for liability purposes.

The good thing about the MTR space is that this happens much less frequently than it would with an STR.

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The normal local who do whatever it takes to live here and most that I know do not move frequently once they lock down an affordable LTR with a good landlord (until they hopefully buy their own place) and third type are those who have recently relocated.

We had previously lived in the town of Lafayette, which was 2 hours away from New Orleans but we frequently visited that city.

I have an agent colleague in the Rochester area that deals frequently with investors.

Currently, the property is rented at $2100/month.The house, built in the 1900s, requires significant renovation, and the tenant frequently requests various repairs and maintenance, such as duct cleaning and appliance upgrades.

I had to ask questions to get explanations about frequent repairs.

Our property was in Michigan and had sub-freezing and occasionally sub-zero temperatures, so 60 degrees is a nice spring day.FWIW, wind chill is how cold it feels to a human.  

Properties rented for less than 15 days a year enjoy simple tax rules, while those rented more frequently face a complex set of tax obligations.