But that can be tricky as well, because you don't want PMs hoarding tenants without reasonable rent increases or keeping regular paying but destructive tenants.

And if the timing works out right for you it will be just after the next crash and crater in regular real estate.BTW - Even if you end up focused on MF, a good DST can be a great back up option to save the 1031 if you can't find the right replacement.

Replaced fill valve and supply line" and the charge came to 243.50 (this seems reasonable for call and the fix). 

Who's keeping an eye on them for lease violations or regular maintenance like landscaping?

When you ask about plumbing, be sure to separate out the drain lines and the supply lines.

There are lots of free resources that track supply and demand data like CBRE, MFN, Housing wire, Zillow etc.

I have separate bank accounts for personal property, LLC1, LLC 2 and Holding LLC.My question is around non-property related expenses like traveling to scope out new markets, home office, supplies for the office, legal fees, professional services etc. 

@Ronak Shah yes having income coming in throughout the month on a regular basis would be nice.

This is why Austin is at record low supply for housing inventory, which could persist for many years to come.