I think it would be prudent to probably treat this as two separate issues. 

Treat it as a business, this is not your money, it is your future... treat it as such. 

As long as you treat things with a level of fairness it will work out. 

Doesn't mean you have to be BFFs with them but treat them with respect.

On the surface, it appears to be a straightforward role, but it becomes far more challenging when faced with issues like non-paying tenants requiring eviction or broken systems that haven't been properly followed.As a self-managing property owner, it is absolutely doable—but success depends on treating it like a business.

Well, the first problem they have is that the code of ethics of the NAR, as well as most state licensing laws, requires the licensee to treat anybody they deal with “openly and honestly”.  

If you materially participate in the LLC’s operations, you may be able to treat the income as active.Material participation in a rental activity, with or without an LLC, still runs into PAL rules.

We have our lease terms but are flexible and treat people fairly.

Quarterly dividends will be paid out beginning in Mar 2025 which will treated as capital gain income.

Treat everyone fairly and follow the rules and you’ll be okay.