I love the ability to categorize all my spending and split transactions into different categories. 

Hi Lilly,Having an LLC has some advantages compared to flipping including the ability to deduct business expenses like mileage and meals, which can lead to significant tax savings.

Many investors also appreciate the ability to use leverage in real estate deals.Real estate can be a strong strategy for preserving capital because of its tax advantages and growth potential.

Luckily I have the ability to absorb the negative cash flow from my W2 income, and I'm convinced that the area will appreciate in the medium term.Thanks all for your advice, this has been an enlightening thread for me!

Some sponsors are mitigating this risk by raising their own pref tranches from their own investor base, thereby giving them control over the terms.In a strong up market it’s likely that rent growth and strong demand will drive up income, thus driving up value, which supports the ability to take out the pref.  

If you really don't value your agent's ability and think you can do it better, it's likely best that you 1) interview more to find one that you do trust, 2) go through the listing agent, directly, if you're that comfortable with handling your side on your own, or 3) maybe get your license so you can control your side of negotiations with the proper tools needed (MLS access with agent info, showings, contracts, tax records, uploaded listing docs like surveys, disclosures, broker assistance for questions, etc.).

I only buy properties where house hack and I have the ability to STR/MTR.

To answer your question, the advantage the GP has is control, and the ability to gain wealth from their equity position (hopefully not so much for asset management fees) by selling at a big gain.  

This deal demonstrated our ability to create value through strategic renovations and effective project management, yielding a solid profit and a successful outcome for our partnership.

This deal demonstrated our ability to create value through strategic renovations and effective project management, yielding a solid profit and a successful outcome for our partnership.