Depends on what kind of property you are operating.

If things work out with this 2nd company, and I have one operating rental in place of two empty lots in North Port, I'll be happy(ish). ya I built 3 up in the Ocala area took way longer but they got done and we did make a very small profit on them but I count that as being very fortunate.

., if I’m dealing with someone in, say, Chicago or Austin, I know precisely which local operators are closing quickly and which boutique lenders are staying nimble.

Moving to a portfolio model—where a pod (1 PM + 2 VAs) manages all aspects of 200+ units—streamlined operations and improved accountability.

I own, manage, and operate out of the Des Moines, Iowa metropolitan area.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

WikipediaPro-business environment: Companies are reluctant to set up operations in cities with burdensome regulations that hinder profitable operations.

@Dennis GallagherIt's my understanding that the "Income-Expense Ratio" primarily use operating expenses as the expense variable, which includes costs like utilities, property taxes, insurance, maintenance, repairs, property management fees, and trash removal, all of which are considered when calculating a property's operating expense ratio (OER).You calculate OER by dividing the total operating expenses by the gross operating income of a property.

I want a successful, long-term operator. 

I plan to self-manage these properties and intend to operate my portfolio as a business, tracking all income and expenses while avoiding the commingling of personal and business funds.