Your question makes me want to check my state rules (Illinois), because I've thought many times that I might as well manage other people's STRs if I have all the processes set up to manage mine anyway.Finding a cleaning crew for 1 STR is difficult, but 5 is easy. 

In a recent post about how to minimize the taxes on rental income it was mentioned that: Setting aside reserves is an expense, so long as they are not excessive.

Do I need to set up an LLC?

Your CAP rate will be dangerously inaccurate if you calculate expenses incorrectly so let's break those down.Utility Set-up- As an overview you need to know the difference  between city-provided utilities and onsite such as Septic Tanks with Leech fields, lagoons, Wells, EtcGetting more specific what utilities are maintained by the community, paid by the community vs the tenants.I will give you a quick example, I own a park with a bunch of multifamily manufactured units of which I pay the electricity bill.

I have used a basic registered agent service and set up an LLC.

But before you can start looking at sites, you need to know what type of unit you're going to be investing in and its location in order to know your target market and what types of properties to compare it to in order to be able to price it. 

. $1550 & $1450, got rent rolls same two sets of tenants since April 2019 and July 2021.

It was mostly targeted at people building active businesses in the industry (agents, brokers, lenders, contractors, flippers, wholesalers, among others) and not so much for those investing passively.Should have been more clear!

You can also set up online payments.

Has completely crushed rehab budget and set us back significantly in timeline.