Does anyone here faced similar issue ?

For instance, said property manager manages maintenance issues, problems that arise during bookings, basically anything that needs a physical person at the property, while I manage the rest?

Based on a quick answer from Perplexity it seems like there would be no issue with you buying the home and collecting passive income, but you may not be allowed to manage it yourself since that is considered active work.

You have a personal issue- car engine blows up, so you tell your tenant that they need to pay double the rent for one month so that you can get your car fixed?

He makes sure we maximize all deductions and have no issues.

Also, if it's Lennar, be prepared for problems, insulation issues and therefore paper thin walls. 

Is there any state statute dealing with this issue?

It also allows the manager to work directly with the insurance company to resolve issues efficiently.In Texas, this is part of the standard Texas Board of Realtors Property Management Agreement and is considered an industry best practice.

But the biggest issue is not being signed into both this account and my own at the same time.

He was more expensive because now I gotta pay someone else to fix it.But here's the other side of the license issue.