Even after factoring in the added costs of maintaining an LLC, the stronger net cash flow from better rates seems to outweigh those expenses.I’m trying to make the best long-term decision and set myself up for success, as I plan to purchase at least 10 more rentals over the next two years.

Many investors grow their portfolios this way while maintaining their W-2 or other businesses.So I’d frame it this way: waiting for the “perfect” deal in your backyard could keep you stuck for years, while taking action in a proven cash flow market could accelerate your growth and learning curve right now.

I have run an airbnb for about 6+ months (so not very long) but I understand the time and effort it takes to furnish, and maintain the listing. 

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

I have good retention rates across my buildings, not sure how much of an impact this has but at minimum helps maintain good relations with my tenants.

.- you're not responsible for amending anything, this is the CPA's headache- you're not responsible for correcting bookkeeping errors of your predecessor- you ARE responsible for maintaining correct books from now forwardSo the approach I would have adopted, were I in your shoes, would be: 1.

You need to keep a detailed time log as your audit defense since many investors don’t maintain proper records.

You want to review all the HOA docs to make sure the community is properly managed/ maintained so you don't run into issues like special assessments or Fannie Mae noncompliance. 

Hey James,Builders don’t push HOAs because they’re worried about buyers loving fees—they do it because HOAs protect the long-term value of the whole subdivision, which makes their job selling homes easier.Here’s why:Property values stay consistentHOAs enforce rules about lawn care, paint colors, parking, etc.That means the house someone bought for $450K doesn’t end up next to one with a car on blocks in the yard six months later.Builders can hand off responsibilitiesRoads, stormwater ponds, shared amenities—without an HOA, the city might not maintain them, so the builder would be stuck.HOA takes that off their plate.Financing gets easierLenders often like HOAs because they reduce risks tied to neighborhood upkeep, especially on big new developments.Price opticsDropping the HOA doesn’t feel like a “discount” to most buyers; lowering the sale price does.

The city is still affordable compared to many Florida metros, which helps maintain rental interest.Neighborhoods to watch: Consider areas like Riverside, Springfield, East Arlington, Beach Haven, Mandarin (for higher-end plays), or Mid-Westside if you’re leaning toward affordability and yield.How to Think About Your Strategy FitStrategyIdeal If...Key ConsiderationsCash-Out RefiYour primary home has substantial equity and you want passive scalingUseful for redeploying capital with less hassle, but depends on mortgage terms and equity levelsBRRRYou prefer active investing—finding deals, rehabbing, and building sweat equityRequires capital, reliable contractors, and strong underwriting to ensure refinance worksHybridConsider starting with a cash-out to fund your first BRRR dealCombines yield potential with equity leverage—but involves both operational and financial commitmentI hope this helps, I'll send you a DM.