If the IRA fails to pay property taxes or insurance bills - you are then personally responsible, which would be a violation of the IRS rules. 

I'm up to 10 doors (including personal residence) and have six more under contract.

It's a great business!

Our personal  house had previous work done but the piers were poorly done, and we noticed dry wall cracks and tile floor "separation"  about 2 years back.   

Neither of these report to our personal credit. 

Here is the current list of cities:http://ritaohio.com/MunicipalitiesI am rather sure that the list has only been expanding over time.As a person/entity who earns rental income in any of these jurisdictions, you are required to file a return not only for the state, but also for RITA.

We are lucky to have contractors we use regularly locally and get bumped up in the cue when we need work done because they know we are here for the long haul and will keep bringing them business. 

I would keep the property, take the extra cash flow & invest in more rentals/real estate strategies. maybe start another business. never sell the house unless i absolutely have to. 

Personally I’m having a hard time coming up with Cons, and that the Pros greatly outweigh them.

I read the business news to find out about new developments.