@Michael DevensHi Michael,Would you be interested in a Limited Partnership on a multi tenant industrial flex complex?

Cons might include increased inspections and regulations, potential for property damage, and the possibility of dealing with tenants who have more complex needs.

The courts and state/county authorities simple don't do that for you. 

Call your county clerk of court and they can lead you in the right direction.

The tenants went to court, but the prop mgr failed to respond and failed to go to court.

I’m not sure what forms or agreements he is talking about but in KC if you are NOT the home owner, you must have an attorney appear in court even if you have a Power of Attorney.

And there’s legal risk, the risk that either through insufficient documentation, or adverse court decisions, the creditors ability to obtain ownership of the secured collateral in event of default is compromised.  

I defy you to name a title vehicle that cannot be pierced, even LLCs owning LLCs.Yes, have to file tax returns, but you don't know what your neighbors' tax returns say, and courts don't order turn over of tax returns as a matter of course, and even then, it's usually after judgment has been rendered.Trustees have to be honorable, which is why I use established banks and trust companies.Having your property in a trust will not protect it from a lawsuit.

She advised me she was a convicted felon for drugs and had a pending court date in 10 days.

It really is increasing cost's and complexity not diminishing them.