Treat this property as a business and factor in all the associated expenses, including mortgage payments (if you pull a loan), maintenance, and potential vacancy periods.To simplify management and make this less of a hands-on job, I’d strongly recommend working with a property management company.

On the other hand, pros include increased cash flow, engineer-based data for the clients CPA, audit protection (with the right firm) and the ability to deflect that recapture fee with a 1031 transaction.

Then you wouldn't have to give up any return by handing off your money to an accredited investor.  

The goal between the existing cash flow and the estimated equity upside on the lease renewal to hit 2X total multiple to LP's in 3 years or under time.

@Jason Wray, I totally agree with @Brandon Croucier's comments.

the essence of BRRRR is to be in-person and hands-on.

They can just be too hard to lease.On the other hand, if the area is doing well economically and its occupancy is currently strong (I certainly want a vacant or near vacant property) I think it's worth considering at least.

I focus on total return.  

These operators totally bungled the deal and operation but still made money due to the market.2.

I totally get it – sometimes it's just about being there for people when they’re ready to listen.