Certain neighborhoods are going to provide better returns than others, but it all comes down to your risk tolerance and timeline.

Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced).

What is your risk tolerance?

It boils down to risk tolerance and your asset protection plan.

@Christopher Winkler  @Andy Mirza    Over the years or should I say decades this is a constant.but what I do because all of mine are firsts and non are owner occ.and I don't like to hassle the stuff I just make a record of it and when the payoff comes in I add all those charges to the final payoff demand.. as long as they don't get too far out of tolerance and I have to foreclose. 

@Julian Mills I wouldn't I'd just save if it were me, but also my risk tolerance is not very high. 

Mistake # 2 tolerating any delay.  

Also, I have worked out a deal with my realtor that I will place a tenant in the unit I reside in once I leave, and he will PM the property for me from then on.I plan on doing a test commute this week to see if it's something I am willing to tolerate.

Would you tolerate this crap from an employee?

It depends on your risk tolerance you can find these properties on MLS but they will have lower yields, because you do not know what paperwork is involved you probably need someone to help regardless, a realtor will do this "for free" on MLS properties.