My concern for you would be exactly that - building it so big that it does turn into a monster you can't manage or grow, because the business systems aren't set up optimally.

  $200K in equity is a ton on a rent property and your return on equity is terrible in either scenario.If you have $200K of equity but aren't cashflowing, you must own a house in a very high priced market. 

As long as your rentals aren't right next door to each other or duplexes and such, there shouldn't be much issue with a tenant realizing their key works another door across town.

After a few months with a property management company, they have made a few mistakes: - Forgot to resolve a broken item in the condo for the tenant, with no communication about the fix/progress for over 2 months- Miscommunicated rules of the lease to the tenantWe’ve also received feedback from our tenant that they aren’t very happy with the tenant-side service. 

Quite honestly, if a property manager is unwilling to give me a little bit of their time to answer questions then they aren't someone I want to work with anyway. 

That way you have access to your current equity and can strike on a deal as soon as you find it but you aren't paying down a new mortgage in a traditional sense. 

The returned mail pieces are the best leads to follow up.....the dozen other people mailing them aren’t reaching them either. 

You're going to let us know what your idea was eventually aren't you? 

I analyze 10-20 deals a week(even if they aren’t for me) and have recently placed a few bids.

Keep in mind though that if you're using a conventional residential mortgage, like you would when buying your own home, you aren't going to be able to buy your investment property in an LLC.