And why 20-80, is that some magical ratio, or perhaps it's backed up by some sort of statistical analysis? 

So, for police officers to investigate these sorts of things is complicated.

If not, then you really need a strong legal structure stating how these properties will be governed going forward, including management, tenant selection, capital expenses, etc.

Its also the right sort of thing to do to try and help someone navigate a difficult time. 

Then sort down to 3 or 4 areas you want to try to make connections in. 

Assuming you want to aim for syndication, you sort of need to learn how to develop a pro forma that ties the return to an IRR/XIRR. 

If you want to be truly passive while living abroad you could consider a DST transfer or syndication where you transition your properties to professional management and get paid as a limited partner and not have to worry about any sort of property management takes.

You have many options here.1) Terminate the lease: It clearly states that they must have renter's insurance and the lapse can result in a default2)Have them cover the damages with sufficient evidence that they caused it3) Claim it on your insurance for the property, likely they won't give a good payout unless a fire, flood, or some sort of wind damage.

Over the past 24 months I've built two homes and renovated another, but I now realize I may have hurt my financial positioning by using all cash and not setting up some sort of LLC for these projects.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!