I'm going to sound horrible but I wouldn't let them being "a lovely family" factor into it.  

It's not horrible, it's not great.  

I had a horrible experience with Lima One Capital.

In a year where the PM is still good but there was some property or tenant drama, I might spend a grand total of 20 minutes a year talking to my PM about whatever it is.In a year where my PM goes completely horrible and property drama ensues because of it and yadda yadda, I might spend a grand total of 2 hours a year over the phone dealing with it (and an hour of that is just because I'm chatty and I got into fun conversation with my new PM and rambled for an hour).If two hours a year knocks something out of being classified as a passive or hands-off investment, then, well....your call.

A while ago I heard that Bank of America was horrible to deal with regarding short sales.

Some are going to be good, some will be great, and some will be horrible.  

My experience personally has been horrible lol, I've only actually bought two deals from wholesalers.

The other horrible part about this incident is that allegedly there were NO smoke detectors installed.

Lets say you have 5 properties under one LLC called "Matt Rules LLC", and something goes horribly wrong with one of them.

The water flow was horrible and heaven forbid doing laundry and taking a shower at the same time.Thanks....and have marvelous weekend!