Totally wrong: it's not more expensive than to operate as a person vs LLC, for tax purposes it's a disregarded entity if you're 100% owner, loans more expensive because it's commercial loans not because you're in form of LLC, no annual fees at all.Pros: your name is not searchable on auditor site, it's give your assets protection if you're not co-mingling money, you can build separate credit history for your LLC (for example, I have 2 credit cards for my businesses and they are not on my personal credit report - just on EIN).Depending on how you structure your businesses, you might decrease taxes - rental business is on sch.E while main business on sch.C and you can manage cash flow between them).Besides, it gives your money protection from claims on your personal liabilities (unless you QCD your properties back and forth to get a loan). 

I often get repeat business and decrease my vacancy rate because my tenants know that I'm on their team for making their living situation a pleasant experience.

This would decrease total expenditures, thus driving monthly cash flow up.

If you analyze the right way, you will decrease your risk drastically. 

As a passive investor you are relying on GP to maximize rent and decrease expenses. 6- Renovations for all units are expected to take place over 24 months.

Focus on looking for good value add buildings that are mismanaged but have potential to increase rents or decrease expenses. 

You will find the before and after Cash Flow amount will be decreased because of the larger loan amount and larger monthly mortgage payment.  

I have two properties in Buffalo, NY and I know I will make a 25% + COC return on the first year and it may decrease over time, but my end goal is to have income in retirement.

With MF, you can increase the value by increasing the NOI (increase revenue and/or decrease expenses). 

If jobs leave due to closing or relocation of businesses, demand for rentals will decrease.