I'm sure a lot of people do exactly what you are describing, but instead of renting all the units they choose to live in one and let the other tenants cover a part of their living expenses. 

If you choose to hire a PM it is your responsibility to manage that PM as you would manage your own business.

I go in clean and paint and I can't do that with a tenant in there, so maybe you only lose 1/2 months income.

New carpets Spacious bedrooms and Freshly painted with all new fixtures in addition to 2 renovated bathrooms which compliment this home perfectly for you.

New carpets Spacious bedrooms and Freshly painted with all new fixtures in addition to 2 renovated bathrooms which compliment this home perfectly for you.

Added central AC, new paint, some flooring, bathroom and appliances.

My primary residence has 200k+ of equity(due to significant rehab and market growth). We've decided to move to another home, keep this as a rental and plan to aggressively invest in RE via BRRRR strategy. Trying to de...

Not looking to do any repairs beyond cosmetic (new floors, paint, etc) for this purchase since my timeline is fixed by outside considerations (new job start date). 

I had envisioned having several qualified applicants and choosing the best fit from among them. 

The entity you choose for your business really depends on your business specifics rather than the 401k plan.