The reasonable salary will pay a payroll tax that is equivalent to self-employment tax. 

I'm pretty sophisticated and I can't rely on the Stock Market even with puts, calls, day trading or margins to make this kind of money "Safely"!

I have licensed plumber/electrician on payroll and will be doing all repairs in house and absorbing a little bit of labor on my shoulders.

With traditional payroll, I’d unnecessarily incur payroll taxes as well as deductions like FICA (social security and medicare), federal and state income taxes.

Jeff, a Reg D 506b offering allows for up to 35 sophisticated but un-accredited investors. 

If at the end of the first year with your rental property in operation that you are able to profit $10,000 from cash flow after all operational expenses and debt service were paid, your COC return would be $10,000/$30,000 or 33%.Sophisticated investors compare COC with other investments to determine the highest and best use for their liquidity going into an investment whereas ROE is used once the investment is owned.

Even with sophisticated/institutional investors, it becomes a hassle managing the political dynamics around related party transactions.

You can run payrolls for an additional subscription, which is cheaper than using payroll services.I used the Desktop version, recently updated to the 2018 version for $199.00.

You are a sophisticated investor to scale to 120 units and bought at reasonably lower rates.Nobody can say if this market is going to dive or not and 1031 in another asset may not give the income that u have. 

You ask for proof from there insurance company after that you should ask if they have proof that the workers are getting paid threw a payroll company since this is really the only way to know if they are even paying for the policy that they claim that they have.