Structuring under an LLC is common, too.

Because the Property Class dictates the Class of the tenant pool that the property will attract.The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Class and Tenant Class will affect what type of contractors, handymen and property management companies you should target and be willing to deal with a property.The Property Class will also impact the maintenance & renovations you do to,, “Maintain to the Neighborhood”.Why is that important?

Pat, I have been managing my properties for a long time and stayed away from management companies for the reason of them not being diligent and prompt with everything from leasing to maintenance, etc.

As you transition into ownership, especially with low-income housing, keep an eye on maintenance costs, tenant stability, and any deferred issues he may have let slide.

For rental real estate, expenses must generally meet the standard of being both ordinary (common and accepted in the rental business) and necessary (helpful and appropriate for operating or maintaining the property).

More common with private lenders, or banking institutions where pressure is being applied by regulatory authorities  

MultifamilySFR (single-family rentals): Lower maintenance, easier to manage remotely, larger pool of buyers if you ever want to sell.

We are checking out DoorLoop and Buildium, which seem to be the systems that are common at this unit count.

As-is properties are super common, but you can almost always still ask for an inspection—you just might not be able to ask the seller for repairs or credits afterward.

.- maintenance/cap ex seem far too low for 5 units.