This approach is cost-efficient and eliminates the complexities of dual-state filings.

As the saying goes, "Justice delayed is justice denied."

I would still use quickbooks to track the finances in that account snd all rental associated finances (we use it to track are personal finances also). by the way it is worth the cost of paying someone good with quickbooks to do the initial setup.  

Instead it looks like a sales pitch that is targeted to unsophisticated investors who are new to the space.If that's actually the situation here than these deals generally have multiple things I can't stomach and is an immediate red flag for me.2) AAA Storage growth: At one point I was interested in this sponsor because of the claimed full real estate cycle track record with little to no money lost.

I recommend trying it for yourself.. pay to analyze a few properties... the first free 5 doesnt do any justice until you get used to using it. 

Perhaps you can provide a funds tracking and proof of funds to your investor.

Anyway, what are you guys that use RH doing for receipt tracking?  

The judge is not providing justice to you; he's coaching the tenant, who is clearly violating the contract and essentially stealing from you.

I think tracking productivity will be tough unless you have someone on site that is checking their work at the end of the day and documenting their progress. 

Invest with syndicators who have a narrow niche and proven track record.For example, if an operator has done 5 or 6 workforce housing value add deals in Dallas, and they are offering a similar deal now, that would be encouraging.if however, their current deal was a brand new luxury Class A building in Charlotte and this was their first acquisition in Charlotte and their first class A deal, as an LP I would pass.Find operators who do one thing and kill it in that space.Find operators who own or have gone full cycle with similar assets in the same market.For example, my firm, Spark Investment Group has a very narrow niche - sub 100 unit MF or BTR in Greenville SC.