I use Katrina Hawkins for lower-end properties because she will handle anything, no matter how low the commissions, plus she lives and the same neighborhood where I own most of my properties. 

I had also explored the idea of the life insurance; only it would lower the net income when paying the insurance's yearly premiums, and the wish is to maximize the cash flows while my parents live, not after they pass away, so I am leaving this as last resort. 

@Austin PetrieMissouri-landlord friendly rental laws, lower prop taxes, worse schools, I know it and I only buy on the MO side.

While I do live in a lower cost real estate market, none of my properties is valued under $100,000.

Through this corp you would be able to get fringe benefits like medical reimbursement plan, you could deduct your business related expense, you can take a salary and contribute to a pension plan, you could hire your son or other family member with lower tax bracket to offer them also other benefits.

On the other hand, if I were a real slumlord, and tried to defer maintenance wherever possible with excuses, people just wouldn't tolerate that UNLESS THE RENT WERE SIGNIFICANTLY LOWER.

The comps in the area are lower than the ARV NOW.BUT I WOULD KEEP IT FOR MY PRIMARY RESIDENCE, AS THE LAND SPACE AND LOCATION IS GOOD AND WITH TIME MY CONSTRUCTION COMPANY CAN FIX IT SLOWLY.PLEASE ANY HELP TO STRATEGIZE THIS WOULD BE HELPFUL.

Keep in mind many mom and pop landlords are very hands on.. and have to collect rent in person.. and as stated above it all depends on your location and tenant base.. like west coast tenants by and large you could automate them.. lower end C D tenants no way.

Unless it's near a university, no one wants to rent those.You will have much lower capex - there's no roof, no foundation, no gutters, no hot water heater, etc.

Plus the loan can be built out with no PMI and usually a lower monthly cost than a comparable FHA loan.