COI is the cost of insurance or the amount to maintain your policy.

Keep it Local - Having something close by Can make it much easier to drive by any given day to see how the property is being maintained.

You pay to set them up, pay extra to file your tax return, etc...and most people probably don't maintain properly.  90% of the people don't set them up correctly to maintain anonymity so nothing gained there either.   

You can generally tell the STR on the block because it's the nicest looking, most well-maintained house on the block.

The property was very well run and maintained, though the owner moved out of the area years ago, so rents are below market. 

So, for first-timers, you need to have investor friends that you trust that can help tell you when your subs and GC are juicing you because they know you don't know anything.

Join, these orgs are where old timers hang.The attorney has to be comfortable with all the investor scenarios and for some investors, subject to, to bring most of the documents, trusts, seller affidavits etc.Good luck, curt

Or can you repair and maintain them to keep them going for a few more years?

Trying to maintain and protect your corporate veil is the most difficult and unclear part.

How easy is the place going to be to maintain over the long haul (once I dial it in)?