Spend the time, make the effort, and (hopefully) reap the rewards.

She basically told me the same thing you said about the risk of REI investing being way too high for newbies to justify the reward and time spent.

CAPs are an individual investor's measure of acceptable risk for a given reward.

In the end, you have to decide the cost / benefit / risk / reward of doing one makes sense in your situation.COST - You have outlined some of the costs, but not all. 

It takes more effort and there's more risk involved (therefor more reward), but it just depends on your goals and how you want to get there.As far as focusing on areas with high demand for travel nurses, that's just 1 tenant-type of many in a changing landscape.

I want to make sure that both of us feel like the deal is fair and equitable for the risks and rewards involved.Any guidance on how to approach these key questions would be greatly appreciated!

Your risk vs. reward is way off balance there. 

If he didn't want it or can't afford it, I would have reward him with 60 days time to find another place, then find a new tenant that can pay what it is worth….  

Great post @Don Miller , we have spoken about this situation before and although frustrating the reward will be worth the wait.

I presently have a negative cash flow  in all 3 properties but am more interested in paying off the mortgages early to reap rewards later.Any thoughts?