You really need to define what market you're looking at before looking at the ROA.With that being said, IMO, the best rental areas should have ROA of 6 to 14 percent.  

My experience has been HOA protected properties have a clearly defined maintenance and operating arrangements that all equity holders know of in advance and benefit from the maintenance.The encumbered properties without HOA were a nightmare.

Don't ever let your bankruptcy, sicknesses, accident, etc... define who you are.

So the question becomes what is your clearly defined goal ? 

I started at the biggest broker in California 10 years ago and learned so much of what i needed to do so was glad it didI now work at a smaller (16 actives) Brokerage where I get more freedom to specialize in investing, and service investors which is my strength and a smaller Broker will usually give more perks in marketing, leads, and guidance in tough deals and have more appreciation and better commissions.Summary:Start with the majorslearn what you like and define your specialtiesMove to a smaller broker when you are seasoned.

It was about writing off real estate depreciation on taxes.And so, I started looking at this BP site, and it started to get me thinking, and realizing that this real estate investment thing looks like a great fit for what I want to do in the next 15-16 years before retirement.I've been reading, and watching the BP YouTube channel, and am looking at developing my strategy, and defining my niche.Looking forward to attending a meet-up some time soon, in the meantime, I might be the guy asking all kinds of questions..

As Mayank said, you need to define your goals...This investment would generate about 2.5% cash flow, which is about what you could get in a long-term (5-year) CD these days...without all the hassle of managing a property!

I know my personal umbrella has a specific limit on the number of residential properties I can own (defining residential as 1-4 units), so an apartment would not fit there...also, with that scale (25 units) you have the amount of traffic, people, guests, etc , so the llc appears prudent, but I hear you on the simple notion of it being in your name with the commercial umbrella (however, I think this would then invalidate your personal umbrella unit limit if you tilt the apts back In your name)...on the duplexes and two single families, I think a great landlord policy (with all the bells  and whistles) topped with an umbrella (even 5 million is pretty affordable with the firm I use, called RLI...no interest in the product FYI)...That allows easy tapping of the equity. also, much may depend on the risk you see with those small rentals and what feels right for you (and your property portfolio shows you have great instincts)..I like your use of professional services and you may have done this, but perhaps have your policies and situation examined again by the best insurance law expert in your region or state (I would look for 20 plus years, av rated, a person the major entities and large insurers use in your area)...

It was something I had been thinking about already but didn't know it had already been defined and laid out like that.

@Ned Carey thanks for the replyi will definately read a few example contracts before actually trying to get a house under contract so i dont get myself into something i will regret