You can check with an accountant or attorney to get the pros and cons, but my understanding is that there is a big advantage in being able to limit your liability in this way.Obtaining S-Corp status (while still an LLC) so that you pay yourself payroll every quarter has more to do with the tax implications, as you mentioned.

You will most likely be able to acquire the 100 doors at a lower cost per door because of the lower operating expenses that come from economies of scale (i.e. lower payroll, management fees, contract service) and capex expenses.

Also try explaining a waterfall and sponsor promote and equity to a GC and tell them they only get paid at the end and have to front payroll.

An S corp CAN save you some money on SE tax but it also costs money to maintain a corp, run payroll ect.

As we continue to build our own portfolio of properties, I am considering opening my own property management company in my core market.Based on my experience and study, I feel the local property management complanies are not that sophisticated and I have access to deed records and other resources that I can get to the owners of over 1500 properties on the platforms pretty easily. 

Tenants are responsible for direct deposit of rent to the properties designated account every month...or by payroll deduction.It's just a balance...focus on systems and don't buy crap properties. 

If the client is sophisticated, they probably don't need to send everything to a professional before signing.

I have access to some capital and a decent base of knowledge/sophistication, but there are just so many places to start and ways to go! 

However, these investors must be "sophisticated" either they themselves or through representation i.e. attorney, financial advisor ect.

Banks underwrite based on ratios, but their are a lot of sophisticated tweaks to make sure are in place with your original mortgage to ensure you're flexible & in the best position to continue to buy property.Would be happy to discuss further over DM.