I guess the risk is higher when everything is under one though..

It will give me lower mortgage rate, but sounds a little risky to me.

I am moving out of this state.I linked the actual text of the proposition above - did you read it? 

What I'm wondering is what do i need to be prepared to approach them with a business proposition.

Very risky in my opinion.Any suggestions?

the risk is if one property defaults they all default.. 

My view is that the negative cash flow, the increased hassle and costs of OOS, where we are in the market cycle (most of the appreciation occurred between 2012 and 2017), it is highly risky to produce any return in 5 years (meaning I think it is unlikely) and moderate risk at 10 years (I think there might be return but I suspect it will not be enough to justify the effort and investment). 

I feel like I've exhausted options for pursuing this property, less private money or a cosigner (both are on the table but not ideal for me), and the idea of over-leveraging myself is not sitting well either, but I really think this deal is worth the effort/risk. I

Having the manager mail the checks is risky because they might be lost in the mail and it would be a disaster.

@Nicole ParnellThe other risk is that they could suck and don’t care about your property.