Many custodians will ask that you appoint a Special Advisor (licensed CPA or attorney) to review all the transactions of the LLC to ensure there are no prohibited transactions taking place.

Depending on how you are using the cashflow from the properties, you may want to be less concentrated by spreading your investments over more properties and geographies giving you a broader exposure and limiting the chances of rent interruptions placing strain on cashflow giving spillover effects to however that cashflow is being utilized.Considering the external factors which we'll never be able to control - macro economic trends, regulatory, taxation, etc vs the internal factors - budgeting for r&m, capex, ensuring quality tenants, etc - my personal philosophy is to be more diversified through lower value assets which have less marginal impact when one gets rent interrupted rather than concentrate on assets with higher valuations but give potentially more external factor risk.

When you move out ensure they know to contact you first if there is a delinquent payment. 

There are also an endless number of benefits to having someone in the same vicinity as your investment, not only to make the leasing process smooth, but also to have eyes on the ground to ensure that your property is being well taken care of.

Block-by-block again so just ensure you get some more opinions about that neighborhood specifically.

Then ensure they have some kind of savings to see them through any of those days they are sick, got a ticket, or their rider puked in their car and it has to be detailed TWICE.

They want to do everything possible to ensure they don't end up holding a non-performing asset. 

I need this to ensure additional long term financial security of my family.Please help me with your suggestions in this plan.Thanks for all your critiques of my plan and your positive suggestions in advance.

Instead they will simply be responsible fro XYZ utilities and you'll be happy to implement XYZ energy saving fixtures to ensure they are energy efficient. 

They do not create policies or procedures to ensure their success.