My situation currently is I have 1 SFH rental that is owned by my LLC and doing well, and also I'm doing a live-in flip on my primary residence.

Therefore the growth potential is low as well.

@Gary Abrams A cloud based solution would work really well in your scenario of having other family logging in and helping with management. 

If there was no appreciation, there is no need to do a 1031 exchange.I have never been a fan of condo's as you lose some control over the investment - You have no control over the monthly maintenance fees, you may not have control over who is on the board, you have no control over special assessments.I wish the investments turn out well for you!

Someone can make some money there, but I think you really have to know the city pretty well. 

I invest in Richmond as well, through house-hacking and BRRRRs primarily!

If this is a one-off issue and they generally handle things well, maybe give them a chance to make it right.

Quote from @Brittany Minocchi: I'm a bit farther north, but I've helped a couple of people with loans in that area - the properties seem to be working out well for them!  

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Target ReturnsWhile target returns are crucial, these should be discussed only with investors—not brokers or others helping you find deals.Sample Investment CriteriaHere’s an example of well-defined CCC:Location: Primary and secondary cities in the Southeast with population growth.Type & Class: Class C garden-style or walk-up workforce housing with repositioning opportunities.Age: 1980s construction or newer (case-by-case for older).Price: $5M–$12M, requiring $1.5M–$3M in funds.Size: 100+ units.Cap Rates: Market rates.Roof Type: Pitched roofs preferred.Value-Add: Opportunities for improvements or better management.Why This MattersBy creating crystal clear criteria, you:Avoid wasting time on deals that don’t align with your goals.Build trust with brokers and partners by demonstrating a focused investment strategy.Increase your chances of finding deals that meet your financial and operational objectives.I'll be posting each chapter as I go through them so you can follow along from my notes and we can discuss different strategies.