The administrative headache of having to keep extra bank accounts and tax returns isn't worth the extra headache, especially given there isn't any case law to actually uphold the validity of what the Series LLC is trying to accomplish. 

I'm looking at buying and holding the property long term and putting a renter in it.You can usually pay more for a rental than a flip.

If they are mom and pop type tenants, you can usually collect gross rent in an amount a little bit above market rent so that you can pay the taxes and insurance yourself but you are compensated through their gross rent.

@John Tappi  if the house is going to be under LLC, you usually need to put down 25% for investment property.

Usually you need to put 25% down for a commercial loan, which is $375k, and then most lenders are going to require you have more cash remaining in the bank for reserves.

The cash flow could potentially pay the entire amount of the loan each month, and you'd be getting the tenants to pay down mortgage, plus extra tax benefits. 

I usually pick up a $100 fan/light combo (modern looking of course) from Home Depot or you find deals online

I myself don't buy SFH above $150K because numbers usually dont work in my favor, but i would suggest networking with real estate brokers who focus on higher end  listings.

There are also some turn-key companies that sell rental with tenant and mgmt in place, but even those guys usually only do a single family here and there.

You can usually carry this years losses against a later year's profits.