This way, they can continue to receive steady monthly income without the headaches and responsibilities of managing the property themselves.Of course, I always recommend sellers consult with their accountant to fully understand the tax benefits, but many I’ve worked with have found this to be an appealing option.

Yes - it is more responsibility & work -  but by having all the control you not only get more experience, but control your own destiny, versus being a rider on the bus as a LP.  

Thanks all for the responses.  

PP  50k  EM   1k  rehab/trash out  2k JLH Capital partners provided the 50k to close the transaction.JLH Client paid the 1k EM  and the 2k trash out.JLH Capital pays insurance for the client JLH Capital partner is responsible for Utls. 

We/I am a professional, and our fiduciary responsibility is to our clients. 

Hi Bob,If the LLC is a single-owner LLC, is it still crucial to have an attorney create the operating agreement versus a service like LegalZoom?

I want to get into the commercial side but i understand I have to start with residential to work my way upGoing bigger with a 4-plex could be a smart move if you have the financial stability and confidence to handle the extra management responsibilities.

Thank you all for your responses. 

They've been fabulous from the very beginning, responsive, polite, paid their first month's rent and deposit early, etc.

Thanks so much for the thoughtful and thorough response!