I'm looking into 1/1MF, 2/1MF for now I feel bad about one property that I missed out on due to procrastinating.

It sounds complicated but it's not as bad as it seems. 

A lot of investors have 10 doors, but 6 of them are bad.

Too bad we'll never know...

Huge counterparty risk, I am just working through a scenario where a correspondent HML in the midwest got defrauded from bad diligence and their funding partner is having to clean things up.

I think it's a gamble for someone 2000 miles away - could do well or badly.  

Negative cash flow is not bad. 

I received an email with pricing on both structures, prices are not bad, but do not include much, I still have to pay for a deed (quit claim or warranty) to transfer the rentals, register agent fee if I decide to open the Wyoming LLC.

Make sure that you're properly vetting your team members especially your agent that you work with - your investor agent should be looking out for your best interest and should be able to explain why something is a good/bad deal.

If a tenant (friend) needed to move, I wouldn’t want to be in a bad situation financially.