The asset management piece of investing is not focused on enough, in my opinion. 

I do have an onsite manager that collects rents and shows the units for discounted rent.

I signed a little agreement that my LLC would manage the properties and ran all revenue and expenses through the LLC.

There are PM's that manage on that side, Kansas City property managers don't generally travel that far.

We manage around 400 units in the Chicago area, and we get almost nothing back once a tenant is out.

My grandfather, along with his twin brother, were home builders who transitioned into building and managing a significant multi-family portfolio, which remains family managed to this day.With my personal family background, as an agent I have largely engaged in the multifamily space working with legacy owners in the sale of their properties - from 6 unit, single building properties to 19+ unit, multi-building properties.

For this reason, I typically recommend using series LLCs for single-family homes, where the structure can be more practical, and keeping commercial properties in their own separate LLCs for simplicity and to avoid unnecessary complications.In terms of management, I always advise structuring the series LLC with a separate management entity to address the concerns you raised.

Simply report your accurate rents and expenses which you should be tracking as well and not simply relying on your property management company and their reporting. 

This intermediate step allows you to develop the required systems while the consequences of mistakes remain manageable.One strategy that worked well for several investors I know: partner on your first larger deal with someone who already manages multi-family.

Besides mortgage and taxes you should factor in cap ex, repairs/maintenance, property manager, insurance, and vacancy.