I know it's not "set it and forget it" but I am not understanding how working in Pricelabs means more than just lowering prices or raising prices.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

Quote from @Kwanza Price: Thanks Chelsea for your reply.I mostly wanted to understand what the experience was like and if you have any advice for setting up an LLC/IRA?

We've seen 3% for 100+ unit apartment complexes, but they also have onsite staff not included in the 3% management fee.Two other pricing options to properly understand:1) Fee charged based upon tenant payments or just occupancy.

Most importantly, understand the difference between a business purpose and consumer purpose loan.Read my post in this thread, which details our process in actionable terms.

Consult a CPA or real estate attorney to understand tax implications, build a reserve fund for unexpected costs, and research local regulations to ensure a smooth and profitable transition into rental property ownership.Good luck!

First off, let me start by saying I logically understand a winers attitude is not based in victim mentality.  

However, understanding the passive activity loss limitations is crucial before making this investment.

However my understanding is that exceptions can be made if unexpected life events happen such as job relocation, eminent domain, marriage, divorce, changes to family size, deployment, imprisonment, bankruptcy etc. 

I like Warren Buffet's advice to make sure you understand the investment completely before investing.