Quote from @Jaycee Greene: @Basit Siddiqi How about I suggest 5a: Do what 5) says but add to it, "hire a Fractional CFO to handle most of this"?

An LLC is useful for two things: anonymity and legal protection.

This is one of my target markets and type of assets.

Is this normal cost or high?

@Dwight HenningRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I would be very careful with this arrangement for your clients.

What area is this in?

With syndications many operators are using finance magic to juice returns, but that can result in full wipeout on the investors.

You have to start there because the only thing you can use is what's known.

@Sean Mattis interested and following this.