Also during the ownership you can increase the value by improving the property and getting your feet wet.

Everything else you mentioned, like improvements and Section 179, are basically ways to increase depreciation.

In fact it may even create some more tax return complexity but should not increase nor decrease your tax.LLC are mainly used for liability and asset protection.

Standard laminate is "fine", just like carpet is "fine". 

At our company we like our clients to be involved as much as they want to be with the expectation of trust in our expertise for certain operational factors.Also, if the turnkey company has well-established policies in place for leasing, resident on-boarding, standardization of renovation approach (replacing capex items first and foremost), and property management, then they could be a good option for investors.Also, look to see if they have warranties in place to cover the renovations they have completed on the property.

@Frank V.I would put down 100k on a value add MF, add-value, refinance it, hold for cash flow and market rent increases, then take the capital and do it over and over!

I would like to learn more but when I look up articles it mainly comparision of standard rentals vs air bnb. 

I also would return their deposit minus standard cleaning - why?

It will also limit your access to financing and may increase some other administrative chores.Using LLC is an excellent tool for asset protection.

It's similar to a credit card in the way that you start at $0, rather than the full amount a standard conventional loan represents.I would recommend speaking to the company you're receiving the HELOC from for their specific requirements.