If you start a JV in name but do not give your partners proper control and decision-making rights and the deal goes bad you open yourself up to serious consequences which can lead to SEC violations with extremely high fines.Lastly, you can offer the project up to investors who have no voting or control.  

I can point you in any direction if you have specific questions or need more information on a topic its funny how note investing is Soup De Jour these days on BP.. 10 years ago no one even mentioned it..  

Single family homes are exempt from rent control when privately owned.  

Only caution is if they don’t have checkbook control and there’s a time crunch going through the custodian can cause delays and red tape to deal with.  

Exceptions include delays caused by factors outside the Subcontractor’s control (e.g., weather, material delays).5.

., and I still love Cook County because I have a solid team and underwrite deals properly.I think @Paul De Luca nailed it on the head, though - it seems like you are quite risk-adverse, so maybe given your risk tolerance, it's not the best idea, but if it were me, I would not think twice about it, and find a rock start property manager who knows exactly how to vet tenants.

I wouldn’t go there myself… you lose a lot of control, your house will see a lot more traffic / damage.  

Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

Here’s my recommendation to get it under control: For a quick fix, start by sealing up any gaps using acoustic caulk around outlets, baseboards, or other small openings.

I think every market and every person have their own reasons, but here are some thoughts from a property manager.Pros for self managing / cons of PM- Keep all the revenue- You have 100% control- You own listing, photos, etc- Nobody will ever care about your investment as much as you do.Cons for self managing/ Pros for property management- This is a 24h / 7days a week business and I imagine you have at least somewhat of a life I imagine.