That’s half the cost of Prime’s reduced rate.2nd, like everyone is saying, the cost of setting up and LLC is less than $100… closer to $50… if you just do it yourself through the state (not complicated).3rd, if you want someone to help you draft your operating agreement, hire a local real estate attorney and it will be significantly cheaper than $1660… probably cheaper than $550.4th, if you want someone to do your taxes and help you get your max deductions - talk to a CPA who specializes in real estate and they can review your operating agreement to see if you’re setting yourself up properly, and they can do your regular taxes… and be cheaper than Prime. 5th, a separate CPA can work with you regularly to review your investments and strategies to determine good tax strategies as you look to execute any deals. 6th - don’t lock yourself into a crazy subscription model before you start making money!!!

If you do not regularly file for evictions, you'd best retain an attorney. 

Never heard of a voucher tenant being responsible for maintenance and repairs, rental licensing fees, lead testing upkeep, cap ex, reserves, book keeping and tax prep......and even if you self manage, it takes up your time and should be treated as an expense because its taking away from your ability to earn income elsewhere. 

If it's beyond the regular duties, then yeah, a fee for his time is valid.

This forum is super helpful too so I try to regularly review what’s going on and be as helpful as possible. 

I would shoot him regular updates to keep him in the loop.

Here is a presentation I made describing the benefit of doing such vs a regular investment.

Cash flow is not the only factor in making money but a cash flowing property might be able to pay the expenses and up keep of two properties while one just appreciates. 

Are there many REITs that currently regularly engage in this type of feeder based structuring for a investors?

They are releasing permits now on a regular basis and things are able to move forward like they should.