For simplicity, we will focus on revocable living trusts since I will make the assumption that most people reading this will want to retain their assets and manage them while they are alive.

That's where I would focus my attention.

I have been focusing strictly on pretty cheap liens and I think in order to get a property that is not on cliff or to small to build on I will need to spend a little more.

The indexers have outperformed almost all actively managed funds focused on industry niches.

My suggestion is to focus on getting a property an LLC is not important if you only have 1 or 2 properties it become important when you have a good sized portfolio that you need to protect.

You won’t have time to build furniture in the future, you need to focus on being the director of the circus.Install smart remote WiFi looks (LockState), NEST thermostat, smoke- and carbon monoxide detector, make the place business ready (printer, desk, etc.) and start an awesome looking listing on Airbnb for free.

As board members change, so can their focus. 

If you get off of that focus and start worrying about buying and holding you may find yourself in a much better position.

I would focus on finding a price that it will rent fast, rather than trying to get optimum cash flow.

My recommendation:  Focus on Single Family Homes and look towards the BRRRR method.