LLC #1 (convert to s-corp once turning a 40K/yr profit as recommended by CPA) for a flipping business.LLC#2,3,4+ for Buy/Hold business (opening up new LLC after the previous reaches 1M in equity or property is in a new state)Parent/Holding Company - to own all LLCs or just multiple Buy/Hold LLCs as they are formed?

Understanding these rules is essential for investors seeking to capitalize on the short-term rental loophole while maintaining compliance with tax regulations.

In addition to checking out @Jim Pfeifer’s Left Field Investors, I’d recommend you go to Ian Ippolito’s Real Estate Crowdfunding Review and his Private Investor Club.  

Hey Bigger Pockets Fam,
I'm Lucky, a wholesaler from Fayetteville, NC. I'm all about connecting and making deals happen. But first, I need your insights.
Landlords and flippers, what kind of properties are you after...

I am here again to ask your advice and recommendation as a landlord.  

If investing in that studio style, I’d highly recommend only the best asset qualities, i.e. walk-in with no stairs, good area, golf course or lake view, etc. 

BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy.

My recommendation if you choose to invest out of state is to choose cities in safe and economically diversified areas with above-average income and population growth.

What software have you found to be most useful, and what tools do you recommend for managing multiple residential properties?

I recommend doubling it to help compensate for your time and to avoid applications from people who aren't serious.