Have you seen a positive impact in your STR besides the initial cost savings? 

Thanks  Juan, I'm just curious, what do you think the sheds will cost to buy, transport, set up, etc? 

A Local Realtor to the property can do a broker price opinion, cost varies.OR Pay for on of the 100's of AVM services

Understand Closing Costs: Be prepared for closing costs, which can be 2-5% of the purchase price.7.

Though it might be naive, I was thinking of a buy and renovate project that would cost between 150k and 200K.Any recommendations and/or resources towards this goal would be greatly appreciated.

It sits right on the end of Lake Erie and gets ALL the lake effect snow.Not a show stopper, they know how to deal with snow and weather in Buffalo, but it is something to work into your numbers when you are doing your due diligence on a property.

Financing with the HVAC company usually comes with hefty costs and interest rates.

Caveat being that rehab costs would be extremely high relative to ARV.

Does this strategy effectively contain potential damages (e.g., from lawsuits) within the specific LLC?

Without knowing the renovation and soft costs, having the original purchase and eventual sale price is worthless data.