@James Wise gonna have to disagree with the "lie cheat steal" concept regarding residents.Any resident has the potential to be less than desirable.

Owner occ developments there is no value associated to the income approach so these props generally speaking will appreciate a lot more as the neighborhoods are much more desirable. builders the last thing they want to do is sell to investors if they are creating owner occupied communities.. rentals degrade the neighborhood and they will be sabotaging their own values to allow a bunch of investors to buy and rent out in their communities.So when you buy new builds keep in mind if its a build to rent community they will NOT appreciate like owner occupied neighborhoods.. might be best to find something already 3 to 5 years old where the stigma of renters dies down.. that would be best to protect your investment.

If it's just a money grab and there is no desire to associate with the aforementioned, you will most likely be on the losing end and feel very negative about the program.

Which is why I pay more, for less cash flow in highly desirable areas.In high income areas, rent is a lower proportion of income so therefore your tenants have a higher capacity for paying higher rent because rent is less than 20% or even 10% of their income.

Lo and behold, many of said states will require the foreign entity to disclose owners/members and such, negating your desire for secrecy. 

Unless you have time, desire and knowledge, hiring a property manager sounds like the right option.

The neighborhoods are not upscale but they are desirable so good tenants are typically found quickly. 

I have no desire to be part of any lawsuit or liquidation event.

@Kyle Carter just because a building has all section 8 tenants doesn’t necessarily mean that the cap rate will be higher on exit but it might attract a buyer(s) that are focused cashflow and not appreciation; therefore a lower price to juice the yield.One of my non negotiables if I were you would be to only buy in an area that is desirable.  

We were especially thrilled to start our investing journey with a duplex, and it was even better that the tenants desired to stay and had been consistent with rent for many many years.