My wife and I realized, that after talking with several friends from the local REIA we should consider setting up an LLC for asset protection.  

This LLC's sole purpose is to have investment properties title under its name for liability protection. 

Tom Chen as per my CPA and asset protection attorney, as long as I can track income and expenses for each property (think Quickbooks or the like), there's no issue with using one set of accounts, especially with a Serial LLC.

To actually answer your question, the hours it takes varies VERY greatly, and some of these for the protection of you/actually require a skill/license so thus should be considered more than just opening a door or busywork.Paperwork = 3-4 hoursAdvertising = 2-3 hoursShowings = This one varies GREATLY, first showing = renter?

Whether you will see any protection deposit or they will obtain that security income or who could keep that security income etc.Maintenance and Repairs: you need to understand what process they'll use for sustaining your home, do they have their particular crew members for sustaining it or they will hire contractor for this.

That protects my lenders.

I can promise you that if a relative or friend of mine got duped by an unlicensed wholesaler (which is the essence of the wholesaling business model), I and my attorney would rain down the fires of hell on them.And in case you think that an LLC or S-corp is going to protect your personal assets from the lawsuit I'd bring, the corporate veil will not protect you against illegal activities.

@Brandon CravensFirst......check you local lawa and make sure you don't have rent control or protected tenants.......if all is good...........Take it to $725 on all units.............$725 - $450 = $275/mo..............times 12 mos in a year equals $3,300 a year times 8 units equals $26,400 a year YOU are missing out on.By the way.....once the people that are paying $725/mo realize that there are others paying $450/mo ............and that they are the only ones paying this you will have extreme animosity from the tenants you just put in.Generally............not always.........but generally..........tenants that give you problems are NOT the tenants youput in, but the tenants you inherit.Have the property manager put together a nice professional letter to the other 8 units explaining how as the new property owner......you are coming up with a new lease and that includes bringing everything to market rate. 

We have a claim in with Consumer Financial Protection Bureau and they are looking into bad business practices.

In the last year, 2 of my 10 buttons have lost their protective covers (sort of like a clear plastic sticker on top of the writing) and the writing has started to wear.