Hi Ricky,Being in operation for 10 years with mid seven figures of assets and NNN leases,it would be wise to speak with your tax advisor regarding if the tax set up should be an LLC, an S-Corp  or a C-Corp.It would also be wise to speak with an asset protection attorney to find out if this is something that might be beneficial to you in that area.

Quote from @Michael Smythe: @Felicia Jenkins the shorter the term of the lease and the more tenants there are, the more challenges you'll face - especially if you plan to manage remotely.Who will be your boots on the ground, do showings, maintenance, etc.?

The apartment is owned by family and I wouldn’t be tied down to a lease.

In theory, you could QT the property to an LLC in your name and enter into a lease with you personally.

Is it overkill as I would not be dealing with leases, work orders, etc?

Quote from @Hanna Brown: @Jay Hinrichs  You mentioned Oregon and WA made foreclosure rescue lease backs totally illegal.

Congrats - have you completed the deal yet (4 leases in place, STRS up and running)? 

NOMAD wants to rent my house with a Master Lease where they pay me the rent and then sublet to occupants who pay them.

That said, I do this with a a few investors on rentals since I'm a Realtor and Property Manager where I am boots on the ground for purchase, rehab and lease-up, however we had a strong professional experience/life together before partnering.Lending will also be a consideration as most lenders are hesitant to lend to non-citizens given the foreclosure challenges it can pose.

With this route you can purchase a turn key property and expect to lease the property immediately or purchase an existing rental from an investor that doesn't require rehab and has strong numbers.