Unless you plan to pair it with a construction division or can build out a brokerage and the property management is utilized to bring in and/or retain business, it's not a great business to be in if you plan to manage 3rd party assets.

Yeah, so, on rare occasions LPs try to exit syndications but this is possible only through the GPs approval and that all parties involved are on the same page.

Keep track of all that.You can also use software like dealfinder, propstream, prophawk and I'm sure others.There are free AVMs available, but for the most part I think the free ones aren't any better than Zmate which is most often horrilble. 

LOL) that week just flew by, too busy trying to buy gifts for this Christmas party at my friends house, and too many last min change of plans...

Now my life is 100% REI and I can't even go to parties with non-REI people or I get bored

Here are some additional activities that count, toward real estate professional and material participation hours.Research market for real estate transaction opportunities; current office market rates; terms of financingMaking offer contracts for properties that you end up buyingNegotiation for acquisition of rental properties that you end up purchasing; including directing due diligence and managing financial projections/business plansObtaining financing for properties that you purchaseProperty inspectionsAdvertisingMeeting with Prospective Tenants/showing properties to prospective tenantsNegotiate, obtain, & review proposals and contracts with vendors (insurance, utilities, etc) for property servicesReview and Negotiate The Terms of Sale AgreementsStaging and Decorating3rd party contractor, vendor, or service provider supervision

Should not be a surprise to any party.

They partied hard and broke things.

Both parties walked away from the house because their SBA loan was more than what the house was now worth.

Requiring renter's insurance (separate from your property insurance) is also very important since they typically would not have the cash reserves to pay for a major damage such as water damage, ruined floors, fire/smoke damage, and you will be sued by 3rd parties if something happens to them while at the house if they have to go to the ER.