More specifically, I’ve been looking at 3 bedroom townhouses versus villas (word used loosely) in small developments.

Is there a particular site thats good for searching multi-family specific?

If you think they are dealing you need to make the late night visits uncomfortable by dealing with any specific lease violations regarding quiet hours.   

(This is a general statement not market specific) Condos have a lot more to deal with that TH/Apt, these two are pretty cut and dry compared to Condos. 

Is there any specific value - or downside/risks - to deeding the property to the LLC? 

the platforms have there flaws, we have air, vrbo, direct book, website etc. i would say we have less issues with vrbo than air but the one issue we had, we submitted cost with air and received $2500 for some damage the guest did. if your legit and on top of your game, take pics, save receipts and document; its not hard to get a reimbursement but the platforms have their flaws and when its said "any, all, always" regarding these platforms(or anything in life lol) etc there is usually someone wrong about that. 

Hi Joe, If you have access to your excellent review history, but it's not posted, you could create some sort of repository (landing page, etc.) and link it to your current listing (based on what the website allows). 

Maybe print the pricing off of their website and keep it as well in case there is an issue down the road."

Also if there are any specific zip code or neighborhood in Memphis which are more preffered for short term rental than other zip codes?

If I can help with any specific questions feel free to DM me anytime.