However so many people I see also use super cheap PMs and this can make a difference when things get out of control. 

ValuePenguin is a good source for the relative cost of insurance by state.Operational Costs - Costs like property taxes, insurance cost, state income taxes, regulatory costs (ex: time and cost to evict), inspections, rent control, etc., have a tremendous impact on your return.

Once a tenant leaves, the rent-controlled unit becomes free market.

For some reason this thought has been keeping me from really pursuing this, as I am used to having full control.

With a multi-head mini-split, each room can be individually controlled.

Hi Vince,Without saying yeah or nay.If you do it, you take control of it 100% and let the renter pay you in advance of the work being done.Think where it will best go.

ValuePenguin is a good source for the relative cost of insurance by state.Operational Costs - Costs like property taxes, insurance cost, state income taxes, regulatory costs (ex: time and cost to evict), inspections, rent control, etc., have a tremendous impact on your return.

I found Coach Carson's article really helpful. https://www.coachcarson.com/de...

Should something happen even out of your control the "What if factor" and you miss any payment on any debt on credit. 

For example, more LLCs are formed in Delaware than any other state, and for good reason: business friendly, does not tax out of state income, low filing fees and separate court called Chancery Court.Take some time to research the costs/benefits of different states and make the best decision that works best for you.