An injured tenant could just sue you personally for negligence in your management of the property.  

With it being so popular and hot real estate wise I assume there is a lot of competition to get to the deals.

FWIW, duplexes/triplexes or those types of MF properties are not very "popular" in our area of the country and there are very few in good/safe areas of Memphis.

I don't injure about price but whether you a friend or a company cones to clean up I would definitely warn them about the possibility of needles lying around.

We are debt free and have a lot of assets (mostly tied up in IRAs)Should we rent out our paid for home which would bring about $2500/mo before expenses and is in a popular rental area?

79911,79912,79902,79936,79938,79928 are pretty popular right now. 

Just because someone is a speaker or popular doesn't mean they won't take advantage of your ignorance.

All my net worth is pretty much invested in the stock market (large index funds + some bonds + some public REITs).My job is very demanding and I tend to move around every couple years, so I never embarked into the challenges of directly owning a rental property.At the same time, I am increasingly worried about the high valuation of the stock market, so I would like to diversify some portion of my net worth (say 25%) into some income producing/appreciating alternative investment that is uncorrelated to the stock market.I don't trust the new and popular crowdfunding real estate websites because I see them just as a marketplace with the goal of pushing to the investor as many deals as possible regardless of the quality, so the interests of the company are really not aligned with mine.But I like the idea of passively participating in a syndicated deal as an investor, so, my question for you is, what would you do in my shoes?

Now let's look at how the returns would be split under different JV structures:(1) 50/50 (current popular model): Capital provider=$12.5k / 50%, Sponsor=$12.5k / infinity%(2) 10% Preferred + 50/50 Excess Split: Capital provider=$13.8k / 55%, Sponsor=$11.3k / infinity%(3) 8% Preferred + 55/45 Excess Split: Capital provider=$14.7k / 59%, Sponsor=$10.4k / infinity%In this example the preferred returns don't actually equate to blockbuster dollar amounts - $1,250 and $2,150 for (2) and (3), respectively - but would go a long way to make the capital provider feel more secure in the deal and keep them coming back to the table for more deals.

Rachel Fazio Xero is another popular option, but QBO is certainly the more popular and robust software out there.