Yet as the owner, I am still covering the cost of any maintenance and repairs, so who does this really benefit?

Yet as the owner, I am still covering the cost of any maintenance and repairs, so who does this really benefit?

And the reality was I only put 20% down plus closing costs.

You can either put the portfolio into one LLC or create two LLCs, one for each property.Getting a good SEC attorney is more important than the cost. 

Underestimating rehab costs - get a contractor bid.5.

How much does something like that cost over there?

I have found working with these investors that if they focus on New Construction Investing they are able to not only keep their costs down but the properties appreciate better because the comps are new. 

-While rent would be more expensive month by month, the idea of being able to take my equity out of my home and also being able to reduce annual repair costs, property taxes, etc. does seem appealing to me. 

There is a monthly fee associated for this but if the tenant is serious you can offer it to them at cost.

You should also request a personal financial statement to better understand their financial health and proof of funds to confirm they have the liquidity for down payments and closing costs.