This has very dangerous repercussions to the rental property business.

You don’t want tenants moving them in and out of your property, you don’t want tenants booking them up wrong and causing a flood, fire or explosion.  

This is why “do it yourself” is so dangerous.  

Maybe I ought to balance the potential pitfalls of being a landlord vs the dangers of ending up w/a big hole in my pocket thanks to taxes at the end of year. 

Do not invest in any city on Neighborhood Scouts’ list of the 100 most dangerous US cities.Inflation compensating - Every time you go to the store, the same basket of goods costs more and more dollars.

I've seen a case where the lead sponsor, mis-managed the asset, and put the asset in danger of foreclosure, when the bank called the other KP's and let them know.

Dangerous assumption for a buyer to make unless the builder gives some sort of iron clad warranty/guaranty; preferably, with an escrow of some sort. 

I agree leverage over leverage is dangerous especially if it's tied to primary.Rather than using HELOC as downpayment for a BRRRR project, better to use loan from 401k and/or Portfolio LOC.

We’ve witnessed the danger firsthand of other property managers with the following common fees.Two common dangerous fees:- Resident placement fees - 1 - 2 months upfront, this incentives PMs to have residents move out every year.- Kickbacks from contractors - Incentivizes deferred maintenance PM fees are only assessed, if and when the home is incoming generating.

With all respect to OP, not sure if we have established that yet.Commercial space is THE most DANGEROUS arena to go-it WITHOUT an agent/representation.