Did your primary become rent controlled and if not what exempted it from rent control?  

There is a provision in all my contracts that permit me to assign the contract to a newly-formed entity that I control.

Besides all the benefits of real estate, I like the control I have, and I like the discounts on the purchase price, I'm able to get. 

But because you rent by the room and YOU SELECTED the roommates (for which the other roommates had no control over), that makes you directly responsible to the other tenants should any harm or damage come to them.  

You are in control of how the set up works, if you need interior designer help.

- Controlling costs for payroll processing, unemployment charges, workman's comp and liability insurance- Coordinating ServiceTech & tenant schedules for appointments--- There are several industry vendors that focus on just this!

IRS 590 also explains this.5) When you receive a distribution or otherwise get paid back, never take personal control of the money.

They also are thinking of getting a different PM to manage it after they can gain back control but would like advice on doing so.

Like you I also have the RE license to keep some of the commissions and better control. 

Regarding the HOA and CC&R's, the builder can make changes to the CC&R's pretty easily while the development is under Declarant Control.