From my POV, this is your least attractive option.

I've noticed a handful of properties in the Lansing area since I've been looking that have really attractive numbers as well as many of them being move-in ready or just light cosmetic updating. 

I would ask myself what kind of clientele am I wanting to attract or keep?

But the idea of continuing cash flow might be very attractive.

My wife doesn't want to attract too much attention with our STRs. 

@Tim Herman -- Setting my cap rate miscalculation aside, do you think this is an attractive deal?

LLCs protect you from lawsuits but you most likely are not very attractive to a shark trying to get a lot of money because you only own 1 rental and are very leveraged.  

Determining existing conditions and the scope and cost of renovating them and other project scoping requires time, money, patience, as sense humor and maybe even an attraction to pain :). 

If you want to hold it, you need to figure out how to make the return attractive enough for funders to want to give you the money for a long-term investment.  

There are certain properties where the stated rental income is attractive compared to the sale price.