Ther is nothing wrong with using anoher party but consider the risk. 

If you're in Dekalb, there's more risk that you may not be able to continue to operate than Fulton, IMHO. 

I'm currently about 70% occupied but ONLY generating 50% of the potential rent due to concessions.

Quote from @Paul Azad: it seems this latter structure incentivizes GP to take more risks particularly with debt options.

It's your largest potential expense aside from the house collapsing.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

@Bruce Lynn, while I am guessing because I don't know "most" large multifamily, I would say it is very much manager dependent and likely to become more common place as many syndicators are struggling to make their mortgage payments.Ownership companies are still run by people, and people that don't have enough money to pay their bills will start prioritizing who to pay based on the perceived risks of not paying.As for taking over any outstanding bills, that is one of many issues of the common LLC transfer.  

Outside of potential lenders, I could also see it being used with potential partners and possibly sellers to establish credibility. 

If you do it online, you will have to deal with timing of your payments and potentially have a penalty.

It has value added potential as I can 2 more doors.