They are not generally near a retail center-point so I'd be curious who a potential solid backfill would be, especially to your point, given the size and physical attributes of buildings themselves.

:) Being a property manager is demanding.

It's also about your ability to access the Sponsor's financial and managerial documents on the go so you can control and check what is happening regularly.

If debt-financed real estate is acquired via an IRA, any income attributable to such investment will generally be subject to unrelated debt finance income tax.5.

I can't tell you how many properties have units easily convertible from 1 bedroom to 2 bedroom units, units with favorable dimensional standards which can boost rents with no photos to showcase these attributes, assessment square footage that is not correct,  upgrades not identified in the marketing materials etc.

Piercing the veil refers to holding an individual or other entity responsible for the actions of an entity they hold an ownership or managerial interest in.  

You may want to consider asset protection for the consulting business and/or real estate by holding in appropriate entities, especially depending on how risky the consulting is and how many assets are attributed to that business. 

One comes to mind that just had his second one year lease renewal with no issues.)With regards to the PM or Not to PM debate raging elsewhere in this thread, as both an investor and a property manager, I get both sides and there are some great points being made for both. 

So it is a disregarded entity where the tax should flow to my 401k.When I try to open a business account with Fidelity, I filled their form to explain that the owner is my 401k and the manager is me.

Historically those are the attributes that drive value.