The buildings are getting older and they don't have the funds to do the repairs.

I could also assist with options you might have regarding renting or Airbnb the property.

The property is a duplex with an ARV (after repair value) of $700,000, making it a strong deal.However, I want to ensure I’m not overlooking any potential red flags.

I have an assistant enter this once a month from the PM reports provided (and just a bank account statement for the single tenant properties which don't have PMs).

I'd greatly appreciate any assistance or input that someone knowledgeable can provide.

@Sean Hurwitz tell us more about your goals so we can assist!

So as long as your insurance, property taxes, property management, utilities maintenance, repairs, vacancy, and capex come to $4/mo or less you’ll be fine.

If FNMA, FNMA allows transfer of deed to LLC if mortgage originated after June 1, 2016 and original borrower owns a majority interest in the LLC and any 12 months of owner-occupancy is first met:https://servicing-guide.fanniemae.com/THE-SERVICING-GUIDE/Part-D-Providing-Solutions-to-a-Borrower/Subpart-D1-Assisting-the-Borrower-with-Property-Related/Chapter-D1-4-Transfers-of-Ownership/Section-D1-4-1-Information-Relating-to-Transfers-of-Owner/D1-4-1-02-Allowable-Exemptions-Due-to-the-Type-of-Transfer/1041300841/D1-4-1-02-Allowable-Exemptions-Due-to-the-Type-of-Transfer-09-09-2020.htm

My research guided me to form an LLC to hold the properties during repair/rehab (I am buying properties that need major fixing) and move them to another LLC where I will be collecting rent. 

But we already get deductions for maintenance, repairs, and improvements.