See http://www.law.cornell.edu/cfr/text/26/1.856-1 Having said that, American Homes 4 Rent operates as a REIT and holds property in a variety of LLCs where the LLC ownership is through a limited partnership (LP) that the REIT owns along with another LLC.

How you achieve that leveling - there are a variety of ways. 

I had a variety of plumbing issues done (nothing major just cosmetic) and the labor was double of the parts.

Basically, I just followed a system and a variety of marketing methods.

They had a variety of investments from apartment buildings down to small mobile homes.

A suburban strip mall that provides needed local services (e.g. dry cleaner, nail salon, variety store, coffee shop) is going to be much more stable then a declining neighborhood which can only attract payday loan & burner phone stores (how many of these do you need per block!).

There's a variety of managers out there in town who can do property management but it's never one size fits all.

Sounds like you're definitely exercising a wide variety of methods, are there any you find yourself gravitating to in particular?

When you look at the variety of products when it comes to hotels not everyone likes the exact same concept.

Biggest reason for Tools of Titans is because of the variety of the interviewees that are throughout the book and the insights they offer.