I'm the mindset that it's better to own fewer high quality properties than lots of inexpensive ones (e.g. all those roofs, HVAC etc to replace in the future). 

Just like any business you might bring in $100k but have $50k in expenses.

Commissions do seem really high in expensive markets, and they are.

If you could find something relatively inexpensive around the downtown area for those wanting to experience the Riverwalk then it may be a great option.

It is also relatively inexpensive compared to LLC formation, upkeep, and yearly registration/possible tax.The #2 point that makes this a mute discussion is you are not going to be able to move a property underwritten by a GSE (as most mortgages today are) into an LLC legally. 

It demanded to replace full flooring, scrape walls and repaint costing entire year worth of rent from that unit.Question: are there technical solutions inexpensive to remove cat urine instead of replacing all wood , carpet and walls?

Quote from @Jordan Regier: Adding a garage is inexpensive and it provides you with a lot of options.

Properties seem to be pretty inexpensive.

The local store may have a limited selection but you can find more sizes and options on their website.The tenant may very well trash them, but they are inexpensive and can easily be replaced with the deposit.

It's on the inexpensive side, but between the survey (about an hour) and screen-time, it takes me about 6 hours.