Just incredible bad business practices.

The theory is spot on, in practice however that logic rarely plays out - at least in recent years where multifamily has been crazy.

Here are some practical changes I would make to improve your property's performance:- Change your guest count to 6- Your target market will be small groups visiting for fun (birthdays, concerts, events, etc.)

I don’t know if this is really feasible in practice though, and I certainly do not recommend abusing it.

In the meantime, I would like to gain experience through employment with an existing real estate or property management company.Is there anyone out there that can provide me with some good advice/guidance as to the best and most practical route to achieve that goal?

It's admirable that you are defending him as he defends unethical and immoral business practices.

It’s standard practice and an essential safeguard for landlords.Trust your instincts and treat this as a non-negotiable policy.

Issue is, in these "bad" deals the government comes after the lease option seller for predatory lending practices and the eviction / foreclosure process is a nightmare.

Best Practices for Finding a PartnerWhat are the most effective ways to find a solid investment partner?

Quote from @Alecia Loveless: @Jonathan Bombaci I think a good lawyer that has passed the bar to practice in two states is going to be more expensive than $200,000.