I'd say first step is to pick what type of investment you're looking to do (i.e BRRRR, Flip, Buy and Hold, etc.) then find a market that supports that strategy.

My strategy hasn’t changed due to our national debt, high interest rates or potential for a recession.

If someone filed a frivolous complaint against me I'm automatically out $5k for my e&o insurance deductible.

Implementing this strategy will allow you to be more knowledgeable and therefore able to make quicker decisions and secondly others take notice of the investors who are repeatedly transacting in a specific neighbohrood which leads to more opportunties being brought to you. 

Hi. I am in the process of purchasing a new rental property and expanding on this initiative in next few years. Currently, I own one rental property. Should I create an LLC at this point to protect my personal assets ...

Insurance companies have become very nit-picky.

How do you feel about that strategy?  

What's the strategy for these?

If you close into a 30 year loan from the get go you will most likely pay a pre payment penalty of 3-5% so that strategy wouldn't make sense.

@Jeremiah Ellard IVThis appears to be a financial strategy question and not really related to the FHA 203k.