No matter where you live or where you own assets, I personally recommend the Series LLC to be a great tool for the individual investor who is planning to expand their operation, as it allows for you to scale infinitely for FREE.

In RE you have infinite loss potential.I don't mean through property losing value, that can happen but will generally rebound. 

More like $3200 (@75% c-o-c on $200/mo cashflow), which in a perfect scenario he gets back within 1.5 yrs or less, then his return becomes infinite (again, if everything is perfect).  

The current owner doesn’t strike me as lazy so I assume he chose carpet because it’s infinitely easier to maintain.