Is an LLC overkill for this type of arrangement? 

Interested in an attorney's answer to this one.Also, from what I understand as a non-attorney, FLPs (family limited partnerships) suggested by @Brian Bradley are very complex and expensive and would be an overkill for most small landlords with modest net worth and no estate planning needs?

Running to the bank every month seems like overkill for sure, not something i was excited to hear.

For example, you can take a look at the AIA forms or the ConsensusDocs forms but I think they are overkill for the kind of project you are looking into doing.

Do you think building a nice website to outline all benefits of the lot size/location, nearby amenities, pretty pictures and video and a clean way to submit bids and stay in touch with me...would all that be overkill? 

It works well for rent collection and tenant maintenance requests but is probably overkill for a single 5-unit.

I did not catch that.. looks like a realistic proforma then.. good luck with it.. remember turn over kills landlords.. do everything you can to keep good tenants in place.trying to raise rents 25 bucks then have a 2 month vacancy will take years to recoup..

Although brands like Dewalt are Pro grade this may be overkill if you only use tools occasionally, Harbor Freight tools are cost effective and will  certainly be of value.

You can require a license and insurance but I think that’s an overkill.

I am also of the opinion that too large may be overkill.