Still do you think this is worth it given our housing circumstance?

I think the value given to landlord- or tenant-friendly as a distinction is often confused, misunderstood, and errant.

Maybe less)(the extenuating circumstances would be lay off's during covid)BACK STORY- i was about to file my chapter 7 bankruptcy, I looked through all the positives and negatives (so i thought).

There is a legal doctrine called "piercing the corporate veil" in which in certain rare circumstances, a member can be found to be personally liable.

There is a distinct advantage of having local management, though with technology it's possible to manage from a distance yourself.

If the lender you talked to only has this option, you should shop around for lenders that have other loan products-80% cash-out refinance is going to be challenging in any circumstances, but especially with a short seasoning period. 

Sometimes there’s extenuating circumstances.

From my POV.it really depends on asset class and tenant Class.. this is a huge distinction. my clients that I sold apartment complex to in Oregon with B class.. they pay 4% but then have to pay for on site manager as employee.. so 4% to manage the on site person so that person does not rip you off :).However for BP and I have to think the vast majority of the rental property investors on this site that have gone to  D C B out of state markets.. those props are not like a 600k rental in Denver and the tenant that comes with it.. or really any city with a A class tenant..

So I may use them for my next purchase depending on the circumstances and properties they have at that time.

What I remember so distinctly about acquiring the first rental is how there were a lot of documents and signatures, but no actual money at the closing.