I am cutting out 2or3 middle-men; a sales rep, a GC, maybe a sub-GC because yes there can be layers of GC's depending on who your hiring.

Unless it is a new build, and it comes with purchase warranties are an extra cost and may or may not even be executed when needed depending on the circumstances. 

A lot depends on your entry price and instant equity. 

Another benefit is it is much easier to diversify into multiple markets, asset classes and operators.Just wanted to share an alternative - often active investing is the way to go, but it really depends on the person and it is important to know that there are passive ways to accomplish your financial goals.Good luck!

For bookkeeping it depends on your portfolio.A portfolio of 1-3 SFR's can likely be a DIY project.For 4+ you may want to consider outsourcing.For tax prep, you'll likely want to have a pro handle it regardless of the portfolio size.

Depending upon whether they are a bank or a trust company, custodians are heavily regulated by the IRS, DOL, possibly the FDIC, State Banking Commissioner, and maybe the Comptroller of the Currency.

Collecting rents is an art and a science.What you should depends on where they are with their late rents.

It is really going to depend on your cash position and long term goals.

Yes, depends on if he already has a loan and the rate on that. 

-Depending on your gain above, you could get a partial 121 exclusion and a 1031 on the townhouse.