Its not profitable and the tenant base will be too much of a pain. 

It's probably his experience working in all of these areas of real estate that gives him the ability to connect with his customers on a different level and understand their pain points. 

One of the biggest pain points for potential hosts or owners is the 24/7 communication so mastering that solves a major anxiety point for them.

This particular building has (9) 1 bedroom units undergoing the same renovation with rents between $1450-$1800.  

In our area, obtaining zoning is also a big pain requiring zoning board public meetings.

I like you experienced a lot of pain trying to find experienced and efficient property manager's in Des Moines, so we ended up starting our own full service PM to handle our portfolio needs.

I'm leaning towards Class B properties in areas that are undergoing revitalization or anticipated economic growth.

A month ago I closed on my first rental property and I am already feeling the pains of working with a lackluster Property Management company.I purchased a new construction SFH in Northern Dallas through a turnkey company.

Sometimes if you are renting the unit and it is not insulated properly, then you hear footsteps and conversations from next-door units, so tenants complain a lot, but there is not much you can do.Also, one time the unit above mine leaked water into my unit, and the HOA said I needed to talk to people living above mine to fix the issue and they didn't have the fund to fix the bathtub from leaking into mine, so I had to pay for the repairs.Sometimes working with HOA and is painful, but other times is easy if the unit does not have problems

From an income tax perspective, the LLC provides you with absolutely no benefit.Even from a "anonymity" perspective - if that is a Single Member LLC, the K-1 from those syndicates is still required by the IRS to be issued directly to the beneficial owner - you.If you don't make it a single member LLC, say your spouse is also a member, now you have a partnership tax filing - if it holds a number of LLC interests, it is now a partnership filing that is a pain to file to roll all of those activities in and report it on to your personal returns.In short...most likely it is best to keep it simple.