.- Give them complete control over your money in the context of the deal or fund. - Wait and hope that they deliver returns. 

CalifCalifornia is so tennant friendly that I lose control of an asset that I purchasedIf I'm going to rent it the lease agreement wasn't of my doing.If I'm flipping to sell (my primary focus) there's someone living in my construction site.Bottom line, I'm buying a house, not a Tennant, squatter or whatever.

In most jurisdictions it will make the primary rent controlled.  

Additionally problems that may exist that the title company has no control over gets blamed on them.

Alternatively, once the existing tenant is out, you can lease at market rate.The real challenge of "non-landlord friendly" areas in the form of: your ability to adjust their rent from one lease term to the next, rent control issues that would limit your ability to ever push rent increases over time, any mandates on required renewal options for existing tenants (typically come with rent control measures) and the ease and speed with which evictions are processed. 

On the broker side, I like having a little bit more control over the process like being able to talk to the UW, ordering appraisals through my AMC, and handling all third party communications. 

However, be cautious as banks may still enforce the clause if they detect the transfer of control.

Consistency with contractors and controlling material costs can make all the difference.

He feels emotionally attached to people who have had to hustle for a few years working a crappy job and building up credit because that is what he did.

This is why people don't like renting to friends/family because its human nature to mix emotion into the decision making and that makes dealing with managing the investment messy when things go sideways.