Definitely worth looking into! 

It is not even worth asking. 

For context, land here has gone up 4x in value over the past 4 years and continues to increase as the city sees more development.

I am looking for advice on putting my home on the market I purchased 5 years ago for 240K and has a worth of around 500K from the booming market around me.

Would it be worth contacting a real estate tax attorney??

The property is indeed in another state (NV) so it sounds like that does increase the LLC maintenance/fees.

However, it may lead to higher monthly payments and increased debt.

Depending on the type of strategy and the financing, reserves can also differ - whether it's a short-term rental, mid-term rental, conventional, DSCR, etc.In general it would be:downpayment + appraisal + title fee + escrow fee and prepaid + lender's feeFor rentals, you would usually be required to have cash on reserves for a certain number of months worth of PITI - typically anywhere from 3-12 months.

If you are buying or refinancing an investment property, you can use a DSCR loan to finance which doesn't consider your DTI or income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

Main questions from here:  Is a coaching experience worth the high price tag?