A professional manager will:1) Limit the risk of lawsuits and risk on tenant safety2) Perform home turns between tenants quicker than you can3) Screen tenants with advanced knowledge on Fair Housing Laws, identity theft, and filtering false references4) Be able to monitor and handle scams5) Provide you with the quickest eviction process if needed6) Have problem solving skills, so that most days you don't even know there was an issue because it resolved with little or no involvement from you.7) Have resources that include eviction attorney, repairs, cleaners, appliance repair, screening companies, mortgage properties, emergency line coverage. 

Not the other way around as the 'corporate veil of protection' is still valid while incorporating a business entity mind you.I think you're asking if alternatively an LLC would suffice as a way to organize, but this can easily be determined with an SEC lawyer (even an initial consultation).Your question indicated about ten people involved in this particular business plan and could be covered under the LLC as well in the ability of 'unlimited owners' (people involved)- but again that's where a consult with an SEC legal professional comes into play.There may be things that even your LLC would be involved with that (if you started there) would pop up on the SEC radar- and it seems better to know how to most legally organize from the start.There are various podcasts and books on this topic for folks in your exact situation, but I would consider maybe just skipping those and going for a meeting with an SEC lawyer from the gate- better safe than sorry, and you may be advised an LLC would work just fine for you.

@Ginger CarrIf your parent's only income is $25,000 a year, they may be able to structure it via installment sale and avoiding paying taxes.There are some risks involved with an installment sale as they have to be on top of the buyer making payments or having to foreclose.But this strategy might be able to avoid federal taxes and net investment income tax.They may still be subject to state taxation though.However, the best approach might be for them to hold onto the asset and allow it to pass to you with a step up in basis(if it is still around).

One of them is to get involved in these forums so this is my 1st post.

If I’m working with a partner, form the relationship and when the right deal crosses me, see if they want to get involved!

This is one of the advantages of investing in a syndication you do not get vs. investing in a stock market or REIT.Vet the integrity of the sponsor and their team.What charitable organizations is the GP team involved in?

Granted that hiring a management firm would probably eliminate any cashflow, I am leaning towards just managing it myself and assuming that since the place is in great shape, the day-day involvement would be minimal.

My company is involved in a lot of work for the T and other municipality projects so I am constantly traveling and meeting new people. 

My wife and I did two flips on our own, after people saw the second one on social media we had about 6-7 friends inquiring about what we’re doing and how they could potentially be involved.

If initial hours finding and acquiring and possibly rehabbing is anywhere from 10-100 hours depending on how much work is involved let’s say each deal needs 50 hours of ‘work’ on the front end.