The more you can plan ahead, the more pain you can avoid later.

Has anyone done this and can shed some light on pain points? 

If we didn't get the assignment of rents, I'm sure that we'd be filing a proof of claim for the borrower's instant BK case and would be waiting 6 months to a year to get relief before the borrower filed a 2nd BK.Being able to foreclose in a timely manner far outweighed the little effort needed to get the assignment of rents.

Construction loans are typically expensive and a real pain in the butt in my personal experience.

I stay away from the national guys because they're kind of a pain, (trust me they try to solicit me for business once a week).

Most attorneys will tell you it is painful to change an LLCs operating agreement once it is created.Creating an LLC is pretty easy. 

Managing other properties can be a pain in the rear with low return.

Sure it was painful paying the tax on the rollover when I set these up but I don't have to pay tax on the gains my IRA has made.

You get the award for great landlord, you keep them and address their pain point.

A discharge, once ordered, relieves the debtor’s personal representative of liability for the discharged debts.As Marc Cormier observes, “This is, of course, good news for the heirs, and a relief for them in their time of grieving and distress.