I appreciate the varying advice people have given me already as it showcases their personalities, risk tolerance, and values.

Hi Wil,Many people get a LLC in the property they are buying under the holding company.

In a past life, managing vendors for HUD, the following quote was a mantra we learned the hard way to live by:“People do what you inspect, not what you expect.”Louis V.

Then see how much time you spend every month hassling them for payment say 2 or 4 hours every month.If you logged all of that time 15mins or 1/2 hour every time you call etc. that adds up.You might think oh it doesn't cost me anything just my time, then your time isn't valuable and you have undervalued yourself.Don't let people do that to you!

Then later today the investor chose to include me in a group text he has created with other people on the road leading to the housing project about how great of a victory it is that he’s gotten the dumpster moved and that he will be cleaning up the space and planting grass and greening it up come summer.

But people vote for politicians that allow this so someone must like it....?

I used to reply, talk in DM about what we have, etc, but at this point I've given up.  95% of the people we'd talk to about leasing our properties so they could STR never moved forward (and most of those, we just never heard back from)So now when someone reaches out, we ask a few questions first. 

(A bit of self-interest here....I am in the Eugene (Springfield) market and always looking for references for reliable, quality maintenance people!)

This is a great place to learn and to connect with people so take advantage of all the great resources.

In Detroit Area, I consider East English Village, Bagley, Detroit University, to buy first house turn key around 150-200k, than after I gain some experience(~6 month) with just renting, go to the next level of complexity and do BRRRR there with people who I can trust after first deal.