Even with a property manager taking a percentage, you’d still see a return, and it might save you a lot of stress managing the property from out of state.

We manage over 85 listings.  

A couple of years ago there was an excellent long article on BP about all the things to look for and ask when interviewing property managers. 

Originally posted by Alison Robinson:Hello all,I am in immediate need of a Commercial/Residential Property Management Company representing owner-landlords on the South side of Chicago.

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

Those that own it can be harder to sell as the cash flow from the business will cover the debt service for the business, but not for the real estate.Example: I had a very high-end assisted living facility on the market. 

Try interviewing at least three managers.1.

I own one facility and it has been quite a challenge so far.

After 30+ years of property management, I'd say get used to it sucks. 

It’s definitely worth exploring if you’re looking for a robust management tool.