A lot of people are really bad at managing a business.... this is even more true if you reduce your sample size to contractors.

-------------------------------------------------------------------------------------------------------------------------------------------------------------------The seller purchased this almost entirely vacant and highly distressed asset in cash in 2016 and has had X company handling the management and renovations since.

., process the incoming money from investors, track capital accounts, handle all the distributions, do tax returns, wind down the fund, etc.)?

Each holding LLC would hire the PM to handle operations, including leasing.

After that you either you and your wife or would be wife can use rest of cash to buy own primary residence or do another house hack. 3) Married with children:  Buy your own primary residence, small, easily maintained property with low down payment and use as much first-time homebuyers programs out there to reduce use of personal cash.

They are the only company I am aware of that meets our needs of having one account that can handle multiple LLC checking accounts, ability to auto add late fees, allow you to block payment if you are evicting, allow for every other week rental payments, and many other features.  

And I got my guy that can handle the electric stuff.Awesome actionable advice Brian. 

@Chris M.The only way to reduce your "tax hit" is to either make less money or somehow generate deductions. 

For example, I'm in a partnership where I handle all the financing and my partner finds the deals and handles all the rehab. 

I'd see the need for a GC to reduce carrying costs if I were flipping though.