The vendor that I signed on with, in addition to other quotes, have all said the needed repairs would be more because there were things that the adjuster left out and did not understand the nature of what was needed, thereby attaching a low value for repairs. 

We put an additional $65K into it. 

HaleyThere are different ways this can go. 1) if you acquired the property in the current year, you would put the assets in your depreciation schedule just as any other asset and take the benefit of accelerated depreciation. 2) If you did a retroactive cost seg, you have to file for 3115 and take the adjustment as section 481 adjustment3) If you did the cost seg on the properties that were acquired last year(only one tax return has been filed), you could amend your return from the prior year. 

However, the two reasons LLC exist are (1) to produce a “remote entity” that doesn’t have the compliance complications of a corporation so that it’s relatively easy to comply and very difficult to prove an LLC is a persons “alter ego” (thou nowhere near impossible) and (2) to provide a remote entity that qualifies for “pass through” taxation benefits.  

I'm not entirely sure if the cost outweighs the benefit, especially since the property itself isn't high-maintenance.

The key is finding a good HOA that won't eat into the cashflow of your investment while still experiencing the benefits of a good association. 

Additionally, I’m up for long distance investments but I would definitely need some mentoring there because it was hard enough managing the VT reno from Boston.My current strategy would be to rehab/flip a few houses a year so I can leave my W2 job and also add some buy and hold rentals (MFH, STR).

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Additionally, to @Kobi Nagar's point.

It sounds like you’ve done this already but when I remove the emotion from my real estate decisions the decisions I make start benefitting me more.