It's an acreage property near the lake that has a main house (2/1), guest house (3/2), and small studio-layout unit (3 units on same property).

Condo: Condos may offer maintenance benefits, while homes provide more control.Size and Layout: Ensure the property accommodates your child’s needs and potential roommates.HOA Fees and Rules: If considering a condo, check for restrictions that may impact student living.4.

Our main issue is these properties are owned in an LLC.

I'm getting ready to list my first large property with 3 separate units (Main Unit, ADU, DADU) on a SFH.

The main reasin is for a better clearance of liability. with you editing a signed contract, that has a high Probability of letting a tenant be able to void the contract and it actually happening.

Then I p;an to move out and find another project.I am excited to join the forums and learn from the vast wealth of knowledge on here, as well as (hopefully) benefit the community with some of my own learnings.Look forward to the journey.Franklin

In addition, when you have leverage you have the other benefits which @Ali Boone mention.

There's other items such as this where it may be helpful to talk to a CPA/EA for a little tax planning, especially since you'll likely get caught up in the passive activity loss limitations if taking bonus on a single rental property as I often see.It's also useful to mention that even if you do the cost seg study (I'm assuming you're doing one to be talking about this), you'll still benefit from accelerated depreciation in the form of shorter useful lives on the assets where you received bonus from.

The mortgage is currently under my name, so I’m unsure what benefits, if any, I’d gain from using an LLC in this situation.

It may work in the long term but can be a painful process.i wish the OP the best and i believe he can benefit by recognizing the value in the various responses but seems unwilling.