My tenants have been amazing no issues and they always pay on time or early.

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Remember, they can always refer themselves😊Now, make it a goal to call at least 5-10 of these people EVERY day and ask a MAX OF THREE off the list below of who they know that:Just inherited a homeHad a loved one pass awayIs behind on their mortgage or tax paymentsHas a relative that can’t take care of their house anymoreHas a house they’re having trouble sellingIs facing bankruptcyKnows a probate attorneyKnows a bankruptcy attorneyetcWhy only three off the list per contact?

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Most are fine with that, but a few will have problems with it and claim there are legal issues, etc..

What digging I've done has been in valuing professional services practices (same issue: owner does the "labor", has client loyalty, etc.) as well as medical practices (patients loyal to a doctor more than a physical address).  

I have had many work group bookings with no issues.

It increases complexity and cost dramatically and thus should be avoided.Whether you need an LLC at all and other legal protection issues - now that indeed is for attorneys to answer.

The only issue is the tenant. 

It's also likely to be more expensive than what you have now but that's all relative.