Also would love answer to the following: - Are there any specific challenges or advantages you experienced compared to a JV structure?

Challenges?

There are occasionally opportunities for grandfathering if there is evidence of legally established conversions that were done previously, but no permit records exist to show it was done. 

This has become challenging due to an increased interest in the historic district in Dubuque due to revitalization plans that include 18 million dollar investment into the historic downtown area. 

However, I emphasized the importance of open communication and encouraged them to reach out proactively if they foresee any challenges with future rent payments.

I wanted to bring in more houses, I wanted to take pictures with the guys and our remodeled houses like trophies and make media to bring in more sales, perhaps joint venture with other investors and grow a really strong powerhouse of a team and take on tough, challenging places and really beautify an old neighborhood.

Financing and Complexity: An LLC can make financing more challenging and expensive since banks often offer better terms on personal loans for real estate than LLC-held properties.

Lending terms will be important here.I'd say the biggest challenge thus far is making sure I feel comfortable managing this remotely, as it's located about ~150 miles east of Dallas. 

Challenges?

Challenges?