It offers a lot more than just rent collection.

@Ricky Rigsbee - I use the Michael Blank SDA and think it's extensive enough for modeling a purchase with or without syndication. 

Perhaps if your partner was a general contractor or handyman type there may be some merit there to reduce costs / increase profitability.If your partner enjoys deal sourcing, a better move might be for him to become an agent - so he could legally collect commissions from finding deals and managing properties for multiple people. 

But I wanted to collect some recommendations in the meantime. 

Also, it often helps to connect with a local agent/do extensive due diligence on renovated/new construction properties to see what the property may sell for or appraise for (if doing BRRRR method) as that can impact the price you should pay.

Each of the 5 warehouses on this campus will require updates (construction of offices/bathrooms, roof repairs, paint, siding repairs, new penetrations for doors, updates to electrical, insulation, and extension of water and sewer). 

Here's the deal: You don't need to withdraw and return the current security deposit just to collect the additional $100.

Reason: I signed a new job offer at a nonprofit yesterday and having extensive knowledge of the real-estate market in Philly would be very helpful.

The PM will also fix things when needed, using local handymen or contractors, and collect the rent for you.

Many opt for other investing methods in their SDIRA like private lending, crypto, private equity...anything except collectibles and life insurance.Note that a Solo 401k is exempt from UBIT on leveraged real estate so if you have self employment activity and no full time employees save for you and your spouse you should consider the Solo K as an option.