If you are investing in a distant market there should be even greater reasoning behind the investment because you have less control and therefore even greater risk no matter what anybody tries telling you. 

I probably won’t structure my next deal this way, I would rather just own the property and have more control of the project.

You should secure that switch (or that area), so you can control who accesses it. 

Now some choose to do it with TK companies and give up the control factor that you have with your investments.

Or any game that aims to reduce FICA.However, among other advantages, a partnership allows an even better control over your FICA taxes via guaranteed payments - a partnership's version of W2.  

I think from all my years around these investments where most investors get in trouble is they simply do not realize that once they made the investment they no longer have any control. 

If you’re okay with the lack of control, it could Be good for you.A benefit in addition to being passive is that you can invest in whatever markets you’d like.

Utilities altogether is about $250 a month, internet is $90 a month for the 1T fiber (we want fast internet for 6 people), 5% vacancy, Lawn care $120 a month, Pest control $30 a month, and we do bi-weekly cleaning of the common area at $200 a month.

There was also a part of that law that enacts rent control anywhere in the state, which may affect your plans.Make sure any changes you are proposing to the contract are compliant with the "new" New York State housing laws. 

During the GFC, the Obama administration took control of these entities and they have since been 100% controlled by the government.