Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced).

I own a farm as a primary residence in norwood, ontario that my wife and I are hoping will be our forever home.

This will be a major factor in deciding which flag to go with.Marriott and Hilton are the darlings of institutional capital and are easier to finance but they are expensive in terms of franchise fees, royalties etc.

Yes taxes are egregious thats for sure but when factored into the proformas, deals still pencil out consistently with ludarcis numbers.

Make sure you take all of these factors into consideration.  

Your kids get to start depreciation over again at new home value and never have to pay your depreciation from before and can’t 1031 forever, and so on).If you sell your rental at a loss then you can apply a portion against what you owe, but like everything there are nuances.

Again though, your market is going to be the determining factor here, and probably even more of a micro-market even. 

I think there are a lot of different factors being discussed here.  

And I often wonder if this is one of the contributing factors to the large amount of foreclosures in our area: reluctant long-distance landlords who have a former primary residence as a rental.

Depending on your individual tax bracket/rate this should save you money after all numbers are crunched, factoring in the amount of interest you pay as this is, obviously, a true cost.This of course also means that you, during the phase of paying off these mortgages quickly, will have less cash in your account.