I say this let you know - while you absolutely can do it "on your own" these are just a few reasons ( mentioned above ) why folks hire managers - stress free!

Sometimes tenants want extra TI on new development than is standard so developer gets them to start out at inflated rent.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Had you called a broker you would have had about 90% of that extra money in your pocket.

You can hold the tenants responsible in that way.But to echo what the folks here are saying, sitting down and having a conversation with either party regarding their break-up and the present situation would be a no-go for me.

I have a full time job like most folks and don't have the time to PM all my properties.  

The OP literally said they're doing illegal things, so I feel zero remorse when folks willingly break the law and then get in trouble.

In my experience, most who were willing to take the extra step toward having their property professionally managed were relieved to not have to deal with:A.

With the right folks, it’s amazing what you can accomplish without ever being there in person. 

If you need that extra cash right now, it might be worth it, but you’ll be sacrificing some of your monthly cash flow.Option 2 offers a slightly lower interest rate and no origination fee, which gives you a bit more room in your monthly budget.