I own 10+ rentals in Columbus Ohio and another 21+ in Florida!

We are a boutique firm in Chattanooga and every agent in our firm is personally involved in either real estate development, owns investment properties or flips homes. 

For example, I would never have 2 properties in 2 different states in the same LLC. 

I get nervous about it but then have to let my rational brain work and say, I own an out-of-state property and I own another property in LA.

I am not able to take equity out of my condo because it is currently on the blacklist due to HOA fixing the roofing and a Fannie Mae rule stating, if more then 50% of the condos in that community are owned by investors, I may not be able to refi.

Arizona is a title state vs the attorney state of the Carolinas.

We saved Settlement Statements from every closing and one of our former partners owned a national title company, so we had enough closing cost data to build a models for each state on the buy and sell side of the note buys.

It would be far simpler to put the $500,000 in a bank account owned by the LLC and you immediately own a fixed percent.

I am a small out of state investor with a few single family rentals in Cleveland suburbs.

If I were to be managing 10 of my own rental properties I would likely forget to check if one paid rent lol.