Apartments are incredibly competitive. 

What an incredible return on your money.

There is a brand new development downtown called South Main that will bring 314 new units online this spring with rents starting at ~$1,400 and amenities that include high-end finishes, a year-round pool, hot tub, community BBQ, covered gazebo, private gym, lounge, pet spa, gear workshop, and co-working space.

So that means you'll need to be under contract (easier said than done) by the beginning of June or late May (always a hot time for the real estate market), which means you'll need to start shopping in April and be ready to pull the trigger in May. 

A multi-single member LLC in Wyoming seems a very odd choice unless you mean a Series, but that will still get each Child Series (as with all Series) subject to the $800 minimum a year Franchise Tax.The only irrevocable trust would be one for your Primary & secondary residence - but then it is expensive to break that, you have to figure out your life expectancy to anticipate the trust ending before the end of your life to get any tax advantages and the QPRT no longer has the incredible tax advantages it used to (though it might in 2026 when/if it reverts back to the old structure) since the sweeping changes of the Tax Cuts and Jobs Act (TCJA) in 2017. 

From what I can tell, hot is on full-open and cold is completely shut.The middle line runs to......the toilet.Yep.

So my question is: assuming a similar initial downpayment, would you recommend:1- get another place in Meridian or Nampa - I am afraid of being too concentrated in a smaller market, lots of new construction, and not sure of very long term prospects2- Go for Provo despite lower cashflow, but less new construction to compete with and booming, well educated population3- Go for Surprise or El Mirage since Phoenix MSA is so hot and booming with potentially better cash flow than Provo, but lots of new construction to compete with.The properties I am buying would be considered B or B+ class.  

This way you can test how hot they are to purchase, thatll give you some idea of how quickly it will move.

This means you are competing with everyone and in a hot market this means you are likely not going to make a profit on these unless you scoop something up day 1-2 and get lucky.

We purchased a home on WIlmington Island, a very hot housing market area.