Condos for instance will charge HOA fees, limiting your net cash-flow.A PM will run 14-16%+ as they charge a month's rent to place a tenant, take an extra month to turn a unit and charge you premiums and overrides for the work.  

That will protect you (to a limit) if you are ever sued.  

-- Setup your books: there are two kinds of setup:----- Set up a QuickBooks file, with the industry specific chart of accounts, over 100 of reports for your industry - estimating from $300 up (one-time fee)----- Set up your tenants, properties list - variesWhen running a business, you need to account for overhead expenses, that includes bookkeeping, unless you want to learn to be a bookkeeper, controller and CFO all in one. 

Too many might raise a read flag, but a business meal for a business purpose is not limited to they type of business relationship.

My eventual plan once I have enough capital raised for another downpayment would be to get another place and would only paydown the mortgage if the lenders say my debt to income ratio is too high.Your strategy should depend on your risk tolerance - everyone will have a different limit for the amount of risk to reward they are willing to take on.

I get these 2 under control by working 7 days a week and both tenants are in , up and running .

It seems like there is more flexibility when the investor can have control over the LLC (and the checkbook) to be able to fund deals as they come along.

I make better income and have much more control over my life than an average 9-5 employee, but further growth is difficult. 

Also income from the other units would be considered.Given what you are saying, you are likely working with limited income, so rate is going to be critical for you.

They are going to push you to every limit to find your weaknesses.