Most custodians that allow for checkbook control do not set up the LLC.

I would love to own all my real estate 100% with full control. 

It's not money for nothing (and your chix) for free.You will have to spend time working at it.You should ask yourself--is doing the things I need to do to operate this rental business, and taking the financial risks I need to take the right thing for me.Also do you know enough (in your judgement) to be able to start in on this yet.For instance, do you know what a P-Trap is, what about bug control, do you know how to legally evict someone in your town, and do you have money set aside to do this and also to "Turn" the unit for the next customer/renter while still paying the mortgage?

Capex is wildly variable, but I'd go with at least 3.5%, playing off the 27.5-year depreciation rate for residential properties...but that's only AFTER the initial period, over a very, very long period, if you are tightly controlling costs. 10% is more reasonable, and some years, especially early on with delayed maintenance, it'll probably be 100%+. 

The tenant allows a violation of MN Stat. 504B.171 Subdivision 1 (allowing controlled substances, prostitution, unlawful use/possession of firearm, stolen property on the premises).The tenant has materially violated the lease, other than nonpayment of rent.

For my wife and I, we are focused on retiring in 10 years so we can be full-time parents and volunteer.

I’m interested in Vanguard bc of low fees… I also like to have control if the market dips be able to sell right away since these brokerage houses once they mange your portfolio don’t put a trail stop on your portfolio.

Parents often buy houses and keep them for 4 years and then dump when junior graduates. 

.- Tree removal, asphalt installation, roof replacement, windows replacement, deleading, pest control, interior design.

I am a control freak, and as an agent that focuses here in the area in Chicago it is hard for me to give up the control since I am already on the ground anyways!