Personally I’d do a 1031 to save $40k, I’d skip the LLC, increase the limit on my umbrella, and call it a day.

I'm curious why your bank rate recently increased?

•If you can, raise rents or find ways to increase the property’s income before applying again.Have you already tried talking to multiple banks, or is this feedback from just one?

That method will increase your ROE significantly more.Also read the BP book on BRRRR investing.

In fact I have a no PITA policy, which means if you violate it you are probably getting a rent increase at next renewal opportunity, which might be next month if you are on M2M.

I agree with @Jonathan Greene that the question is vague, so my advice will have to be as well.The short answer: MTRs are real estate, so just like all real estate, any place that can long-term-rent cash flow with increasing jobs/population can be a suitable site to purchase. 

Small Multi families are a great way to increase cash flow

Quote from @Leeling Chew: Hi all,My tenant's lease expires on December 31, 2024, and converts to a month-to-month tenancy with a $150 rent increase.

I’d recommend looking for properties that already have stable tenants or need minor updates to increase rents down the line.

On the other hand, investing in some repairs (if financially feasible) might significantly increase the property's market value.Remember, each property is unique, and what works for one might not work for another.