On the other hand, separate LLCs for each property provide better protection but are more complex and costly to manage.

I have 2 properties in PCB and i live in Atlanta.key thing, you absolutely have to have a great cleaner. they will make or break you.then other things, maintenance person, know your emergency 24 hour service people (plumber especially), and contact if you are in a complex for example.then there is technology stack that can help you automate things. if you do a search in this forum, the tech stack is asked quite frequently and discussed

I am also seeking a CPA who specializes in the complex world of real estate investors.

But this model would help in getting together the necessary funds (especially for a down payment and minimizing the potential interest on a loan), while bringing in legal complexity.

I originally bought this 40 unit apartment complex in 2021 in Nw huntsville, Alabama and since then we've maintained a sub 10% vacancy rate year over year.

The city must compensate you for taking property so the seller could argue that their silence on this matter caused you no damage.At different apartment complexes, we have twice had the city ask to annex our land, both times to install a sidewalk. 

I’ve seen a number of companies highlight dscr and ground up construction so it would appear these are different products and the ground up development is more private lending.Kevin  ground up development is much more complex.

Or is this an apartment complex with many units in it?

Typically the people who arbitrage properties are operating complex's with 10+ units at a time. 

The more complex you make your LLC situation (particularly with unseasoned proxy LLCs) the less appealing they will be to a lender.