She put a portion of the down payment (15K)...and of course there is a little equity...

In terms of maintenance, they are generally safer because you are not responsible for the exterior and common areas and potential leaks, etc.

Also, keeping an eye on zoning changes or upcoming developments can help you get ahead of the curve.Would love to hear more about your experiences too—what areas are you currently focusing on?

Quote from @Kyle Carter: What are some questions that you can ask to each of the required team members(PM, Agent, etc. ) to ensure that goals align and they are best fit.  

I live around Huntsville, the epicenter of northern Alabama.

Dan,The process to create an LLC in Illinois is pretty simple.

Currently in the state of selecting a market.   

Risks: rates go down and you have to pay a prepay of 2 or 3 %; you have to sell and pay the prepay; rents decline & you can't make the payment like any other type of loan; cost upfront a little more than conventional; need to find experienced broker licensed in the state where subject property sits; servicers are bulldogs. 

For practitioners in the real estate industry, the biggest challenge is not just the difficult work, high risks, or immense pressure, but the necessity to learn to let go of complete control over outcomes.

I hope one or more can get the attention of their state attorney general and the SEC.