If your in a community property state and file a joint tax return then one LLC with both of you on it might be OK. 

A few of the hotels there have where you buy/own the actual unit and you become part of the "rental pool" & get monthly dividends based on how well the hotel does..this one sounds similar.

We own our property in an LLC and apparently we can't file without an attorney because of that.

Currently I am getting an amazing rate with Encompass Insurance as they bundle our rentals as well as personal home, auto, etc.

Don’t rule that out if you need just 50k at a clip to buy properties as well.

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Well that's pretty tough.

I have yet to have a BP poster explain to me why a Wyoming LLC as opposed to an LLC in the state where the property is located will prevent a plaintiffs attorney from filing a claim against the whomever is listed on title when a premises liability issue arises amongst other common real estate investor/landlord claims. 

(FYI I'm working with an agent in St Pete already, but if the first one goes well I'm sure we'll buy more.)

Even then should be able to find lower rate IO.I would check with another lender on this one, check into buying down the prepay as well.