And be sure to check licensing requirements for the business activities of the LLC. 

Sure would love opinions with data.

@Sean SpagnolaRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I'm sure they will be able to connect you with organizations that will help you lose money. 

I most likely can afford it but am really keen on building up a reserve be side there’s still a few things to fix in the place and I want to make sure I’m adding enough equity to the place to eventually cash out refi and get my next property.

(I have five rentals).Thanks What Russell said, you can decrease that liability as much as possible on making sure you line out the 593 form. 

The rents are decent but you’ll have to watch your debt closely to make sure it cash flows well.

I am trying to review the process and see what lessons learned can be gleaned from the whole experience. 

Similar to you, I'm thinking about other strategies for off-market leads and tried direct mailers, but not sure how effective that is for multifamily.

Make sure the portfolio can cash flow the LOC or refi payments.