The LLC should help you lower transaction costs since you as the LLC Manager can buy/sell property, taxes, etc by writing checks from the LLC's business account.I rolled my SDIRA from Equity Trust, no LLC (poor service, high fees) to Madison Trust w/LLC about 6 years ago.

What type of asset class do you think will thrive in a place like this?

Did you include all of your marketing and management costs in your model, such as AirBnB/VRBO-type fees, cleaning, vehicle costs, maintenance, etc.?

If you have not run your own business beyond real estate before, I strongly recommend that you get in touch with SCORE (Service Corp of Retired Executives) at www.score.org.They are a free resource (part of SBA) that will help you to evaluate the financials of the company you're looking at buying, build a business plan and to understand what you're getting into. 

But on what type of property?

Unfortunately, that won't matter as  Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSE’s) that set the guidelines for conventional loans, which most lenders follow for other types of loans, too, require that a condo building’s master hurricane insurance policy provide 100% coverage of the replacement value for the building. 

Bonus depreciation allows you to deduct a significant portion of the cost of qualifying property in the year it's placed in service.

If the company you are waiting on is slow/non-responsive when trying to win your business I wouldn’t expect quality service if you choose to go with them.

What made you interested in investing in this type of deal?

Tenants can't just move in service dogs.