It's basically the same as filing your routine taxes...there is no distinction between you and the LLC for the purpose of taxation

The only time it's a viable option is often properties needing significant cosmetic repairs, and that's after ensuring there's no stringent HOA rules or regulations in place.

Also, if you really want to maximize cash flow, since you are familiar with rent by room strategy, you will probably have to find a property that shows up as a 3/2 with an unfinished basement for 375-400k that needs a little cosmetic work, finish the basement, add egress windows and closets (making two legal bedrooms downstairs), which makes it a 5/2, and then do the rent by room strategy to get 700-750 per room. 

@Jt Marting for your first property I would recommend finding one that just needs cosmetic help (bathroom, kitchen renovations) but newer mechanicals.

Maybe it's the sort of properties I have the luxury of investing in here in the Rust Belt, but it's hard to get over how frequently people buy crap-made crapboxes because the numbers in their spreadsheet look good, trust the maintenance to some schmuck property manager who is willing to pretend to work for peanuts but who doesn't know beans about how houses work, and only find out when the metal meets the meat that they bought a crapbox managed by an incompetent that can't survive something like a major winter event.Like the weather's been highly predictable for the last fifty years and our politicians have routinely demonstrated excellence in disaster prevention and mitigation.I buy old houses up here in Pittsburgh, built during a golden age of pride in building.

Every day same routine , get up before sunrise ... long commute  ... labor for 8 hrs ... come home and get ready for the next day ... some days are harder than others .

If I was just doing the cosmetics, I could easily do it in $20,000. 

New to long-distance investments and looking for the best markets for buy and hold rentals (willing to invest in cosmetic updates but not total flips). 

ON our east coast closings that are all cash.. we get docs e mailed  print them  closer includes FED ex label.. before Covid when my staff was in my office one has a notary so they notarize in house.. then I have a fed ex main office within 2 minutes of us almost next to where we pick up our mail every day so its a routine  pick up mail  go to fed ex to drop off closing packages going to one of the 12 states we maybe funding in. 

Paid 79K for it and used the money I had left to fix up the two vacant units (mainly some cosmetic damage, light plumbing work).