Tax payer has to be the same.

Turnkey also works for investors that are absentees if their goal is to park money/defer on taxes.

Then, the permits taking longer than expected, the repairs budget going to the roof, getting new GCs, the property taxes increase, using the wrong debt and investing alone.

@Josh Haney I believe the legal/compliance piece is fairly well covered by those who already commented I completely agree that it's important to retain legal counsel to assist with drafting and also loop in an accountant to confirm structure is arranged with tax efficiency in mind. 

I took into account property management, 5% no occupancy, taxes, fees, etc.

Your friend doesn't have the knowledge or skills, so I highly recommend he hire an attorney.Since the tenants claim they never received notice, that means they never received the offer of free rent for December and January!

Can anyone give me more insight on how taxes are in Ohio, and if there’s any specific areas of Columbus that I should be keeping my eyes on or avoid?

These will be for the 2024/2025 tax season. 

Think about things like the demand for rentals and the accessibility of facilities, schools, and public transit.Understand Property Taxes: Depending on the neighborhood and kind of property, property taxes in Chicago might differ greatly.

They claim that would be enough to rebuild the entire state, but I have my doubts. $10 billion isn't really a lot when you consider the possibility of half of Los Angeles and all of Orange County getting flattened by an earthquake.