We have totally hi-jacked this thread, apologies to the OP.

If you can find a deal like the OP where less cash out of your pocket and it still cash flows, that would be best starting out... and do the due diligence so you don't have vacancies, unexpected repairs, problem neighbors etc. 

You're seeing co-ops and those co-ops don't allow investors.

How embarrassing is it to have to cancel lol That’s what seems to be so appealing about his program, butttttt I do understand where the OP is coming from.

Co-Op can be difficult because of rental restrictions.  

And I agree with the op.

is actually $103,800 and the annual net profit is $40k after all expenses (including mortgage, taxes, insurance, management, op ex, etc).

There are too many replies to this post and the OP is getting too emotional about the tenant not being grateful for providing him a nice property under market rent.My property insurance went up 10% but the counties cost didn't go up that much.

Not to venture from the OP, but a note: a residential property held in such an LLC can be sold through the share where title is not transferred until the share is fully paid without getting into a real estate seller financing issue if properly structured.Income from properties in the LLC can also pay for premiums for health and life insurance as well as for contributions to a retirement plan.

Was just opining on OP's post.