We transfered ours to our living trust directly - not worried about asset protection honestly because we have insurance and a property manager.

If you are going to self manage it might be a little better, like 10% instead of 20% off, but better to be conservative if you need cash flow.

It will be a new asset with little to no cap ex, and lower expenses.With an apartment, if you buy an existing building, you will cash flow day one, but there are other concerns, such as age, property management, debt, exit strategy.It depends upon your goals with the money, if you're trying to create income, or if you're trying to go into the business full time.Gino

Should I look for some smaller property management firm?

What is the best rental management software for someone with less than 10 units spread out between single family and small multifam?

Second home occupancy loans cannot be leased nor subject to a property management agreement.

If you need a good attorney, I can connect you with the one I use for our management side. 

I've already invested in a duplex in NJ (I'm renting it to two families and managing it) and a single family in MI (living in it).

I use Ziprent property management to find new tenants.

Take a look at some trade accounts and a line at the Big Blue and Big Orange if you are going to self manage.