Buying a 4+ bedrooms with a bonus room or flex rooms they’re able to charge from $650 to $750 per room including utilities.

We've targeted STRs in other areas based on factors like ensuites in every room vs the actual number of bedrooms, so size wise is less of a factor in our search. (2-4 beds, would be the range). 

I think it is ultimately up to you with this decision, because of overall goals and what you're investing philosophy is.Some factors to consider, what would you be saving if you just rented?

I plan to self manage, but it's good knowing a middle tier management option between self managed and full property management - without a huge PITA factor :)

I'm live in Old bridge, NJ and due to high property taxes in New Jersey, PA seems like the best state to invest in(Tavel time ) I'm trying to identify rental markets and research, while trying to establish a team.I've done some research and came up with a few areas in PA include Allentown, Lehigh Valley, Bethlehem, Scranton, reading and Kutztown I'm hopping to cash flow between $100-200 per unit is possible (with property management), and can reasonably expect some appreciation in the next 10-20 years (2-4% per year would be ideal, though achieving positive cashflow on my first purchase is my #1 focus).

But now he is staying so we decided to play the cat card, and told him that per his lease pets not allowed and if he would like to keep it we will need to amend his lease to include additional $100 pet rent plus collect additional security deposit.

Whether to jump in now depends not only on interest rates but several factors including where you are financially, do you think values will increase or decrease over the next 2-5 years and will the investment provide you with a better return than investing the $ somewhere else.?

This includes rules for behavior, use of amenities, noise levels, and any other guidelines to ensure a positive experience for everyone involved.

Tax benefits with or without an LLC are effectively the same.The best protection starts with 1) ensuring your property is in good condition 2) following the law 3) having good insurance, possibly including an umbrella.  

There is no need to factor in attitude or personality in the business.