However, you’ll need to handle all the paperwork, figure out which forms to file, and stay on top of compliance requirements like annual reports.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

So I'd just make sure you have good checks and balances and reporting setup. 

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Mechanics of the fund:Lockup periodDistributionsCompliance requirements (KYC, AML)Reporting timelineFee structureCan you share referrals?

Spending a couple of hundred dollars can reveal major issues.

Tenant shall be responsible for any property damage caused by failing to maintain utilities or report utility problems in a timely manner.Tenant Utilities: ______________________________________________________________Pass-through Utilities: _________________________________________________________Utilities included with rent: ____________________________________________________Propane: If applicable, Tenant shall return the propane tank level to at least _______% upon termination.

Also, the ability to export reports for partners or lenders would be a plus.Essential Data/Analytics: Reliable rent estimates, cap rates, cash-on-cash return, operating expenses (especially maintenance and CapEx), and local market trends like population growth or job market health are key for decision-making

My new bookkeeper initially thought the multiple checking accounts was weird but now she has come around to seeing how easy it is to get detailed reports and information about each individual property this way as opposed to having one operating account for all properties.

Totally agree, they are terrible.I will be reporting them to the governing department.Feel free to reach out and compare notes.