They are there on time reliably, do a good job managing inventory/off site laundry, and generally do a good job cleaning overall.

A reliable contractor and an exceptional agent can make all the difference when things go wrong.The Outcome:This was a humbling experience, and I still wonder if I could have done anything differently (besides the insurance). 

>>For purposes of taxes, consult with a CPA to confirm this would work for your situation, but you could have the LLC be treated as a "disregarded entity" and thus, even if you and your wife are members, any profits/losses would "disregard" the LLC and go directly on your personal returns. 

Also, the tax benefits you expect might be over-hyped: https://www.biggerpockets.com/forums/51/topics/1075919-five-...Figuring our whether there is a useful tax strategy in your situation would take a one-on-one consultation with an experienced tax strategist, and here is how to find one: https://www.biggerpockets.com/forums/51/topics/1222774-expla... 

Consulting a tax advisor or 1031 Exchange expert is essential to determine if the benefits outweigh the hassle.Taxes Without a 1031: Without the exchange, your parents will owe capital gains taxes.

Is communication prompt and reliable, K1 delivered on-time?

You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.

Quote from @Kandice Morgenstern: I recommend you consult an attorney.

And yes, any decent PM company should have relationships with reliable eviction attorneys.

If they replicate that kind of profit reliably, what would they need you for?