(They spent most of their retirement money paying for son in law's cancer treatment.) 

REP status does not guarantee treatment of rental income/loss as non-passive, to get that you need to document 500 hours of property management.

The property is in FL.I'm pretty sure the $500 won't even cover the cleaning costs and AC treatment.

Do you have annual termite treatment or do you just wait and tent every 10 yrs? 

PDX went in a little different direction to spur gentrification in these areas they gave TAX breaks and or tax moratorium for 10 years.. there are many homes and condo's that have this tax treatment and of course they sell over night who would not buy something that you don't have to pay tax on for 10 years.. but it cleans up the area its only for homeowners.

They did quote me for weed removal, lawn treatment and mulching.

This would be a good idea for people that are coming here for medical treatment at Sentara that aren't staying in the hospital and don't want to stay in a hotel, or a DoD contractor that is here for a long-term contract.

You also can loose the tax deferred gain on sale treatment.  

Those that work with investors frequently will turn the repairs around quickly allowing you to get it rented sooner and minimize vacancy (your biggest expense when the property is actually vacant).If you want to capture all your capital gains now without tax and put that into a multifamily, that may also be a good option - but you can still get some favorable tax treatment later even if you go ahead and turn it into a rental - so long as you lived in it 2 of the last 5 years at the time you sell it.Hope it works out well for you!

I always ask if these unlicensed brokers would accept the same treatment.