Real estate investments can be great so hopefully you can apply what you've learned here so that if you decide to try it again you'll get a better outcome.I think what may have went wrong here is you invested in real estate at the wrong time, and with the wrong operator (syndicator), and perhaps didn't have the expertise to sort either of those two factors out.  

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

I am NOT operating to where a late tenant payment affects my ability to manage my rentals and pay my expenses.

Building a scalable real estate business requires developing a foundation that can grow efficiently without exponentially increasing operational costs.

I am a short term rental owner / operator and manage some properties for clients. 

The downside of this may be high turnover rates.The real estate agents and property managers operating in this zip code, may have more to say on this. 

If the property is fully leased and operating well, like your situation, the numbers might not make sense.A few questions to think about....Deferred maintenance or layout issues: If you already need significant updates, the conversion might be a good opportunity to reconfigure the space.

•It’s important to know if you’ll have a dedicated manager or work with a team to ensure there’s clear communication at all times.These questions will give you a solid understanding of how they operate and if they’ll be a good fit for your portfolio.Best of luck lining up the right PM team!

Our property manager mentioned that they cannot collect rental income for one property and divide it between multiple SSNs.Here’s their suggestion: "They are operating a business, and the IRS considers it a partnership.

I have flipped a few houses during covid and remote working times and was fortunate enough to grow up in a family of real estate investors and entrepreneurs which has provided me mentors and exposure to starting and operating a business.I am thinking of starting my own construction/development company in a few years time and wanted to hear some opinions from people who have done it who are outside of my circle.