The CONSUMER will ultimately decide what he wants - NOT what the professional bureaucrats THINK they should have.  

He agrees to this gladly as he would be managing the property and ultimately our goal would be in about 5-7 or so years to refi me out (or whenever it makes sense).

Hey Flavio,ultimately I did not purchase the program. 

Ultimately you will not need to do them, but you should at least know how to handle them.If for no other reason, so that the people you hire to do those things for you don't take advantage of you.

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In a saturated market everyone barely survives so what I have learned is that you have to bring something new and different. 

I would encourage you to see about getting something before you separate as your ability to get a loan should be stronger now - but talking to a great lender will give you the ultimate answer you'll need about that. 

I'm looking at the protocol to register and then have the safety and lead risk inspections, fix any issues and ultimately get the certificate of compliance for 3 years, then repeat.

If permits are required for the scope of work but they are not obtained  and there is ultimately a claim filed the insurance carrier may not pick up coverage.5.

You need experience to know what instincts to underwrite to, and yet, you can't get experience without underwriting and ultimately operating deals.