If the Investor’s relinquished property was purchased just before the tax-deferred like-kind exchange transaction, the Internal Revenue Service has routinely taken the position that the Investor actually purchased the property for sale (investory) rather than holding it for investment.

Because there is a lot of case law routinely piercing single member LLCs as nothing more than an alter-ego entity.

I would definitely avoid routinely picking up the rent at all costs.

Lots of good answers on this thread already, but adding my 2 cents.It kind of goes with mindset, but the ability to focus and execute a daily routine over and over again. 

If you have a busy 9-5 routine but have the money to get started and don't have enough time, turnkey companies provide some of the best resources to scale your portfolio.

As a private lender myself, this is something we routinely fund in my markets because of this lower asset levels.

We manage over 1,000 houses here in Birmingham and routinely meet with investors about solid areas to buy properties.

Can I send a written notice to conduct a routine property inspection or do I need a cause (potential lease violation)?

Use a pesticides service company to routinely check for bugs. 

I would not add window AC routinely if it means you can't open the windows and you don't need it all the time, not all areas require A.C. to be comfortable.