They already cancelled many large complex deals or doubled their price for the past few years.

-Townhome/condominium sales declined 12.0 percent year-over-year.

Some of my colleagues and friends bought millions, others tens of millions, and some hundreds of millions (or Billions) during that period.Real estate is a funny game - it tends to go up, yes, but it does not always go up, and it can go nowhere for a decade or more, as a lot of apartment complex purchasers from 2021 are about to find out. 

Thoughts and suggestions or too complex and take the hit on capital gains tax as I sell my rentals?

Taxes, costs, eviction complexity, etc are going to be a much bigger factor in your success than anything else.

It is more complex and has added requirements such as a formal set of books just like a corporation. 

Condo's are usually on the cheaper end of cost for appraisal reports, typically not $750 (but if it's a high end condo or in an area with there's some complexity, the fee can reflect that). 

Residential subdivisions, while potentially less complex, can be hit-or-miss depending on local housing trends and the cost of infrastructure development. 

Financing and Complexity: An LLC can make financing more challenging and expensive since banks often offer better terms on personal loans for real estate than LLC-held properties.

They are 100% correct.The downside sometimes to forums is people have a superman complex and get the impression real estate is easy as they think everyone is doing it and just jump in without the knowledge or expertise.