I operate this condo as AirBNB rental and retain a percentage of gross income for my management services each month.

So the owner/seller would need to retain an attorney (LLCs can't represent in superior court) and that's where things bog down, time-wise.

With more expensive/lower cap rate properties you can get greater capital appreciation for each incremental dollar of NOI.For lower cost/higher cap rate properties you will need to focus more on acquiring and retaining high quality tenants and you will likely need to spend more in ongoing repairs.I think that if you really dig into the details (I.e. underwrite) a decent number of different classes of properties you will get a bit of clarity on what strategy is best for you.All the best,Ronan

And on the positive, I retain a construction crew and I can get that repaired for a fraction of what your contractor will potentially charge. 

Can anyone clarify... for your S-Corp's K1, do you retain your profit as ordinary income (Box 1) or distribute everything to yourself (I believe Box 12)?

You still retain the exclusion; however, you must still recapture the depreciation that you have taken.

If you wait the full 30 days to send out the notice and the tenant takes the full 7 days to respond, this only leaves you 8 days to file a case in small claims court to sue to retain the security deposit.

Find yourself an attorney that won’t charge you a retainer just to explain the eviction process to you and consider using that attorney to file your evictions.

I was very luck to buy during the downturn, reno rent and retain.  

A provision in a contract that prohibits you from seeking legal advice or retaining a lawyer is not enforceable.