@Jill KellerI personally owned and managed several rental properties, mainly one family, 3-families and been advised by a number of attorneys through the years to forget doing LLC's.

We’re looking to install a property management firm within the organization as a way to generate steady income and keep operations running.

@Natalia Perlova this is part of management headaches!

Each potential buyer has come to their own conclusion that it would be too much hassle and risk to manage in this fashion vs a traditional rental even though the average cap rate in our area has been half that at best.

Go for the independent PMs, not just a real estate agent offering property management on the side or one of those cookie-cutter franchises (PMI / RPM). 

The part about getting out of your own way is so true, especially with managing subcontractors.

My mark up is always lower than the direct lender because I don't spend money advertising during the Super Bowl or buying a private jet for my CEO, and we don't have layers of management we need to pay.

We manage three large apartment complexes in two different submarkets in Indianapolis. 

If they have a taste for it then use the equity to buy a rental where they go to College and have them manage it with roommates in it.   

Hi everyone, I recently purchased a rental property in a condo managed by an HOA, and I’m dealing with a challenging situation that I’d appreciate advice on.