I understand you are very conservative with debt, but having so much equity in these deals has ruined your returns.

I would say #1 and #2 are not your first and second priorities.The first priority must be answering "Is this a good deal?". 

I want to start learning, so i thought underwriting deals would be a great first start.

They would need to deal with each other as neighbors or call the police if a local noise ordinance was being violated.

Don't get stuck on analysis paralysis though when you have agents ready to find you deals in Memphis, TN.

As I'm working on underwriting my deals, one question that keeps coming up in my mind is the use of RentRedi vs a Property Manager. 

@Dante AndersonObviously it depends on your objectives, the deals on both sides, ..., which we know nothing about.

Cons might include increased inspections and regulations, potential for property damage, and the possibility of dealing with tenants who have more complex needs.

Good luck on you next deal!

They get into deals that they couldn't have gotten into previously (without using their own money or their own credit), and I get into deals that I wouldn't have gotten into previously either.