@Thomas Veal , for what it's worth, in reading Garrett Sutton's book "Start Your own Corporation" he is not in favor of series LLCs mainly because, per his report, they have never been "tested" so he wouldn't count on them providing the same type of asset protection as multiple separate LLCs.Beyond that, search BP for asset protection... you'll find people strongly in the camp of utilizing LLCs and many people strongly against them stating you should just have a large umbrella insurance policy.

You can buy things like this:A Areas all in for around 100k rent around 1,400 to 1,600B Areas all in for around 60k rent around 1,000 to 1,300C Areas all in for around 40k rent around 800 to 1,000I live it also because it is also extremely Landlord friendly all laws are in our favor. 

Of course I bought my condos after the market crash in 2008 in SoCal when you could get them for STEEP discounts when they were out of favor.  

Step back and ask all the questions as if you are the tenant:  would you live there, how are schools, crime, location to work, shopping, etc  Also, is it rental friendly, laws favor landlord or tenant, are there a lot of rentals or own/occ, is it safe at night for you to do an emergency repair, etc. 

Yes, the more I've learned, the more I realize WA state landlord laws are pretty favorable.

Of course, over time inflation and rent increases make the investment more valuable and the property will produce a positive return that gets better every year.I also think anyone (like myself) will tell you that gimmicks like no money down and interest only as well as owner financed deals are all meant to favor the bank.  

My understanding is that due to the market going up, it has become harder to find properties that are producing a favorable ROI.

I am assuming you are not licenced in VA.And you said that your friend wanted you to help find tenant buyer for your friends property.If you want to be legal and help your friend, do this way.One, act as a principal in a transaction and get a letter of intent from your friend that says that you have act as principal in a transaction, your friend understands that there is risk in the transaction, and you will sell your interests in a lease with an option agreement to a buyer.If you don't act as a principal in transaction, and do a favor for someone, your acting as a licensed agent, and it's illegal.

Essentially I believe you will want to have an assignable contract with the current owners and a very favorable exit clause.

I'm in favor of self management, but one person cannot manage 85 properties without working 80-100 hours a week.2) be doing one or more evictions at all times.3) be dealing with at least one psycho tenant that is wrecking the place at all times.4) be replacing a roof at all times.