If you find a problem, deal with it immediately by making the tenant correct it within X days (and verify with another inspection) or remove them from the property.Most DIY landlords lose more money to simple mistakes than it would cost them to hire a professional property manager.

Look for insurance professionals specializing in real estate, and reach out to local lenders to discuss your investment plans.

It is a small bath room so I will ask a professional if possible to add a shower.Thank you

The LTR unit's depreciation and losses would be considered passive and can only offset other passive income unless you qualify as a real estate professional.

{This is a general question on preferred equity investing not Wellings specifically, they seem like well run/professional/experienced group.} 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If your wife becomes a Real Estate Professional, you could use the depreciation to offset your taxable income if the properties are LTRs.Overall, with depreciation, your property may not generate any income at all so it doesn't hurt being in your name.

@Robin CastilloStarting an LLC before buying properties offers benefits like liability protection, tax flexibility, and professional image.

Next, maintain professional boundaries with clear communication and a strong lease agreement to set expectations upfront.Proactive maintenance is essential.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?