Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.Any lawsuits would be limited to the assets of the LLC and not your personal assets (assuming you run the LLC appropriately and the corporate veil is not pierced).

Even if i do not follow through on a purchase, I still want to make sure I am paying attention as much as possible to key factors.

Allowing anyone to compromise the integrity of your roof places you at risk of water damage.

And in Des Moines then you have to factor in utilities paid by landlord too.

There is a system we use called RUBS which is RUBS or Ratio Utility Billing System is a method of calculating a resident's utility bill based on occupancy, apartment square footage, number of beds, or some combination of factors.

I'd also appreciate input on these other two factors as well:Are there any other fees to run a property as a rental in Springfield?

Hard money is alot of money to factor in especially if we cant refinance for some reason.

I think once you factor in vacancy and legal expense (which I don't see), you would be closer to that $15k.A class C building will probably wind up higher on the maintenance side. 

Also you should think about management fee and factor in vacancy, taxes and insurance.

Some of the factors that may influence your decision: extensive presence of a particular asset class in the area where you reside, or where you’d like to reside.