It’s the next generation, the ones that grew up digitally native (playing with iPads at the age of 4 type of thing) that will be interesting to watch...

I know that I need to move it out of my name and into a Trust or and LLC, with my primary objective of protecting my "personal assets" in the event of potential suits connected to my rental. 

Aside from real estate being very local, some general principles I follow that serve in any economy :1- Follow proper underwriting principles based on my specific investment style ( value add etc..)2- Use leverage to my advantage but never over leverage my position.3- Keep proper cash reserves.4- Educate oneself in the economy of the market I’m investing in, including jobs, changing demographics, historical cycles etc...5- Surround myself with the proper team members who will cover the areas I am weak at and are real experts in their niche. 6- Knowing when to cut my losses.7- I use real estate investing as a way to achieve more important milestones In life including family, health etc... this keeps me focused on the big picture and adds more objectivity to the process.8- The bigger the portfolio, the more risk one gets exposed to in a turning market and the harder it gets to change direction.

It's a good deal if it's the right asset class and it fits your ROI objectives.

This opportunity is a "social impact fund" developed by a group that "[...] is a vertically integrated, minority and women-owned workforce and affordable housing investment firm" with an overall goal to to "build community and enrich lives through serving as a vehicle for social impact, environmental sustainability, and financial alpha — generating attractive risk-adjusted returns for all stakeholders" and for their investment objectives to include "[...] create, renovate, and preserve workforce and affordable housing in high growth markets throughout the US that have demonstrated the ability to outperform jobs, real wage growth, population growth, renter household formation; and exhibit a supply/demand imbalance"Well, there you go. 

My personal goal is prove everyone, who objects the idea of investing, wrong.

Now before you say, "...but it's $500/month", I will tell you it isn't.Based on the area you described, and the problems you know you will encounter (as in costs, and late/no rent payments), that $500/month ($6k/yr) will disappear real fast...but the headaches won't.You're chasing a shiny object of distraction. 

If they object to that, then they can make the unit available for you to inspect to prove the condition of the unit. 

For me, I always try to remain objective and make sure that deals fit my investment criteria.  

Don't try to be good in all sectors and chase the shiny object.