Since Landlords are going to be monitored even more now with the price gouging issues surrounding the fires in LA, I would be extra cautious.

Extra set of eyes, second opinion and diversity of your own investments

The pref layer is a third party institutional player.  

You can always take extra courses or certifications later to level up your skills.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it.We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

Where to spend the extra for durability and sometimes having to sacrifice aesthetics for durability, etc.

Also, keep in mind that an IN multi member LLC would require a separate tax return, so you would want to budget for extra admin fees.

If you want to grow aggressively then having the extra cash available to you today is more important.

Private notes require more work than Stocks / Bonds, is the added return worth the extra work?

This is a complicated situation with multiple layers to consider, so here’s my take based on your questions:If you’re looking to move assets from the partnership into individual LP (Limited Partner) names while avoiding capital gains, you’ll need a strategy that complies with tax regulations.