Do not ever think that hiring a PM makes you immune.I have a former client that owned a couple apartment complexes in California for 30+ years.

The difference is she lived in a COOP within a large apartment complex and her absence is not noticed.

I have a mutual friend looking to sell a 12 unit apartment complex, due to his age.

This may be a better resource for youhttp://www.dglandlord.com/We are committed to helping independent property owners with 10 or more Dollar General stores to achieve improved financial results and reduced complexity of ownership as a Landlord.

There are ways to get around it, but they’re kind of complex and I wouldn’t recommend doing it unless you had an experienced partner or mentor helping you. 

It seems you've added layers of complexity that are totally unnecessary.Put property in one LLC, one checking/savings account, one credit card.

@Thomas LamThe forums are great to ask general tax questions or even questions that non-tax practitioners would be able to answer.When you go into specific questions and especially a situation as complex as yours, it may be advised to connect with a professional just to make sure that there is nothing intercommunicated and everything is done correctly.

If the $$$ of the transactions is up there, a more complex LP with an LLC as the GP makes more sense, but that's at much higher capital deals.  

IE hey I can sell your complex for 15 million.. that's what they lead with NOT hey how much are your rents.. to me that would come last and in due diligence.I followed a linear path to you when I came to Oregon SW Wa and was buying timber rights and timber land.who was my target market..  65 to 100 year old owners who had lived on the land forever..

I have been closing real estate transactions for 30 years and have assisted buyers in purchasing 1 unit up to multiple apartment complexes.