I want to set things up correctly from both a liability protection and tax-efficiency standpoint but I’m not sure what the smartest approach is.I want to make sure I’m protected personally, while not overcomplicating things or eating up profits with unnecessary entity costs.If anyone has been through a similar situation—owning properties in more than one state—and can share what structure worked well (or what to avoid), I’d really appreciate the insights.Thanks in advance!

I’ve heard mixed reviews from owners: some say it’s an unnecessary expense, while others say it saves them time and stress.

They sometimes buy with a simple quit claim deed, and regard title insurance or paying for a professional search as an unnecessary expense.

It's extremely tedious and unnecessary, but it's the only way to transfer bookings. 

Lawsuits are expensive but unnecessary when business is conducted properly.The item a lot of new investors miss, is the history of how that particular type of creative financing has been viewed and litigated locally.

The smallest mismatch caused delays in draws and a lot of unnecessary stress.

Not because the IRS requires it, but because it makes audit conversations a lot cleaner and avoids unnecessary back-and-forth.And don't forget, to actually take advantage of STR tax treatment you'll need to materially participate by the end of the year by putting in 100+ hours and more than anyone else.

But it's NOT an incentive for applicants to pick us, most tenants don’t even recognize what I’m providing, much less care… Eventually I just may cut that out too as I think the whole thing is just unnecessary.  

The engineer appointment and plan update cost less than 1k and saved me thousands in unnecessary work.

While a separate checking/savings/dba acct may make things easier to track, an LLC is unnecessary at this point.