My biggest mistake was not protecting our properties from friulous Law suites.

I read a post from @Ned Carey in this thread that mentioned an LLC is less important if you have less assets to protect.

Strong US legal system that protects asset ownership, multicultural, great cuisine, nightlife, easy of transportation, low crime rate, and a city thats constantly reinventing itself.Now whats the issue with NYC real estate and wheres the opportunity?

Lastly, you go into a seller financed home protected vs. unprotected.

Quit Claims offer the least protection to the new owner from previous defects or claims.

My state tends to protect "rent a room in your house homeowners" from bad tenants.

By putting both your names on the purchase agreement you are protecting both your interest in the purchase.

The buyer of a half million dollar home usually has funds for an attorney to protect their interests, so I'd suggest proceed correctly. :)

If you use proper asset protection inside your plan (LLCs for holding property, segregating it from other assets, proper liability insurance) real estate is an excellent investment inside your plan.

Also, in my opinion, a property manager not willing to protect the interests of the property owner is doing a disservice to both.