What you have is money.

Feel free to DM me if you'd like more insights on all this (we don't do biz in Alabama so got nothing to lose).Here's some other "copy & paste" advice on how to search for a better PMC:----------------------------------------------------------------------------------------------Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

If he owes a decent amount on the property, wouldnt the conventional route make him lose whatever interest rate he has?

DM me so I don't lose you, we are not based there (CO-based until probably 2033)

Even though I wasn't a good asset manager, I made money on my properties. 

If you reduce to $2,300 and are able to fill the property faster, yes, you are "losing" $100 per month, but even at that rate, it would take two whole years to equal the loss of the $2,400 vacancy month.

You don't need to make all your money on your first deal.

You can still lose your investment in the LLC.

You went to work, made your money, and then enjoyed your life with your family.

His family made their money with W2s and the stock market.