I am fine with it but my own concern is obviously if he burns down the place with the gas stove.

Evaluate how much time you burn a day because you "deserve" to relax? 

He self-manages them but after being burned once, he has been strict with his rental criteria so tenants have typically been highly educated, and responsible.

Sorry don’t understand your replyWhat is your definition of a B neighborhood I am looking at some oF them right nowThese neighborhoods are in fantastic condition compared to back in the ‘70s and ‘80sEven my wife said she would feel safe living in these neighborhoodsNo burned out buildings.  

I was an active member of BP years ago but my dreams of being a buy and hold investor were put on hold when I was burned in a business investment once I got out of the Navy.I have mostly recovered. 

One of these days, I'm sure a tenant will burn us and we'll get more cynical. 

Don't skip any of the above figures to make your numbers look better or you'll just  get burned when you think too optimistically. you WILL need those contingencies like capex roof replacement and being able to afford a PM because no one wants to be forced to manage your own rentals forever because they forgot to budget for that expense.

I look at so many deals with my day Job, and I am ready to turn my burning desire into a reality.... 

@Sulaiman ShahIf you have money to burn you can mail to both to slightly increase the odds of them opening it.

If you are a developer that has 10 projects and you make millions each time on 7 of them but the other 3 fail upfront and you lost hundreds of thousands per deal likely still making great return overall.If you are smaller developer with 1 or 2 projects that can really eat into your net worth burning upfront cash on a project seeing if it will take off or not.You could 1031 as mentioned and just buy something yourself.