PM may stop providing me his services...

[Chad Hurin]

So, some of my other posts show I bought a few units from a guy that offered owner finance. His SFH are all in a land trust and the way the attorney wrote the note is we are both beneficial interests of the trust (not sure if I'm using right terms for explaining this) and I gain more and more interest as I make my payments to him. After last payment, he drops off. He offered to PM for me for a discounted rate because, after all, he has interest in the properties. However he is worried because he doesn't have a RE license. The way I've looked at it was we are both owners for now. He's worried about legal ramifications that I or maybe a tenants could bring. If something could go wrong.

My question is… the way we have this deal set up, is he protected from being fined for not having a license? And if he is, how? If he is not, what can we add or change to make this work without getting a RE license (waiver, ownership in my LLC, etc). Please advise.