Doesn't mean that you don't want to make money and also sounds like an extra $50 trying to hit it on the head exactly could add extra stress and strain when you're trying to purchase the next one and have it contingent on getting a signed lease.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

Not worth the hassle and extra paperwork.

You may be ahead of your reserves for a year or two, but quickly can fall behind those your reserves, as budgeted.I take a very conservative approach, but not only budget all recurring items, like landscaping and snow removal, but also take the replacement cost of every item divided by the useful life (both physically and aesthetically) and budget that as well.  

Downsides included extra time to find the right lender, but nothing "bad" happened.

Go the extra mile and review the data.

I put mine in an LLC just because I like extra risk protection for liability.

That gives me an extra $2,225 per month of income.

I would recommend talking with a lawyer and an accountant - preferably both at the same time whether on a call or in-person so you can learn about potential tax benefits/drawbacks and if an LLC is right for what you're doing.Also, spend the extra $200-300 and have the lawyer draft you an Operating Agreement - especially if it's not just a single-member LLC and you have partners. 

He is now on our forever team because getting the loan is critical but also because of the extra service he has provided us.