I have a feeling this is designed to maximize retention of now dislocated persons. 

If the management fees stay in Sch-E, it is exposed to ordinary income both at Federal and state level, which is way higher than SE taxes of 9.55% (15.75-6.2 (personal social tax already maxed out)).2.

So, things change a bit.If it is his personal home, there are more restrictions.For an investment property, if you take over his financing, read through the deed of trust (mortgage) and see how they handle transfer of ownership.

Personally I think there are great opportunities in Dover, Somersworth and Rochester. 

Me personally I look at my rental as a business everything is paid for by rental.

@Micheal Singleton I have the perfect person you should connect with.

I do not personally use him based soley on the fact that the firm is virtual.

It's a matter of finding the one where the weaknesses are in areas that aren't relevant to your needs and/or don't aggravate your personal pet peeves. 

Are you referring to personal losses or other people had losses?

I'm not sure about the potential for liability in a wrongful death suit if somebody is injured or killed in the fire, but definitely would not want to find out personally, nor would I want to live with that on my conscience.