I don't recommend jumping into this world if you have no experience in the industry.4.

Is anyone familiar with the rule listed in the title and is anyone that has a full-time job in another industry using this rule?

What do you do in the tech industry?

We specialize in helping investors access opportunities in both residential and commercial markets, leveraging our network and industry knowledge to identify high-potential deals.

I am not an expert here but my thought is that you would learn a lot by getting your license and have more credibility in the industry at large so if your time and finances allow- get that license:)

It’s awesome that you want to use your downtime to learn more about the industry and make some extra income as a VA.

Shedding more light on the topic of affordable housing in general... 

If your manager is just 'keeping an eye' on things, collecting/reminding on a few rents here and there and some light cleanup while being compensated in free or reduced space rent then classifying them as 1099 subcontractor is great. 

Any new commercial, industrial projects nearby? 

That has become nearly an industry standard in the lending space.