What are cap rates for this asset class in your area?

Pick a solid B-Class suburban area.

These other LLCs will own the properties.I'm planning to have each "owned" LLC as a class in Quickbooks.Based on your experience, does setting up the owned LLCs as classes make sense?

@John Sherwood you don't give many details about the area of the country this is in, but if this is in a good area (B class), and if your numbers include property management then this doesn't sound too bad on the surface.

@Mike Dymskijust to clarify i am talking about a low income are, class c or maybe its even a class D in my opinion 90% of the people in such areas do not have savings the reason why i would consider the lady with less than 2 times the rent.Frst of all she has all the money ready and seems to be very responsible, i have rented to numerous tenants in the past so i can tell even such a small thing like filling in every small detail in the application {my application has a lot of questions some that most see as irrelevant}. she also has an old car unlike most that buy or lease newer cars just shows how responsible she is, and she seems to be very nice {dont jump on me, i know exactly how it can turn in to lol} AND she has an excellent credit history and that says a lot!!!

I wanted to see if there are recommendations for online property management classes that are specific to WA state?

Typically you need to own the property for 6 months before you can refinance not 3 months and ARVs on C or D class properties can often come up way short of what is anticipated.

You are in a commercial asset class. 3 - It may be hard to convert depending on what district you are in.

My view is that from the outside you can tell it is not stick built but from the inside you can get as nice an interior as desired (at least to B+ class). 

Appreciation likely.East Hartford Mostly a B/C class community.