@Mike AndersonBased on the influx of investors there are definitely areas that are being improved.

Seek advice from legal and tax experts to ensure compliance with local laws and tax obligations.

I definitely recommend slim coating over popcorn ceiling that is giving you any trouble getting off.

If you're doing it for legal protection, then you created an LLC not to manage the STR but to own it. 

Philadelphia introduced legislation at the beginning of 2023 that severely limits the ability to legally operate STR’s in the city.

I would definitely do the LTR and STR in the same building.

Finding a deal that you can get some of your money back can probably be done as people are still flipping houses so there is definitely spread between the fixer purchase prices and ARV. 

But unless you know and understand the reasoning behind it, and are sure the reasoning applies to you, opening up all these LLCs because "everybody does that" or "that's what my real estate bible told me to do" is a pretty silly way to run a business.Taxes and, I assume, legal issues, are never cookie cutter, one-size-fits-all issues. 

We live in San Diego and I have realized that buying here in this market will definitely not cash flow so considering Midwest as well as other options.

Definitely plan on looking more into those area but I will reach out because I’m sure I’ll have a ton of questions.