It may not get the number of wind/hail storms like TX does, but when the storms do hit in MN, they're usually very large systems, and produce awful hail damage. 

When you go to sell the property, if you produce a certificate of inspection for the wrong number of units, buyer unless you are giving them a great deal and they will throw caution into the wind, would insist on the correct designations.

You can go as low as 2.5x in some cases but NJ tends to produce enough traffic/applicants where 3x should be minimum unless property is over priced.

One big one is that scaling the lease option sale to a homeowner will attract both public regulatory scrutiny and private litigation, perhaps class action, once it reaches a certain threshold.  

I consulted with a real estate lawyer a few times this year who said it's very hard to sue for negligence and they advised against taking legal action, especially since the property manager at least followed through on the eviction and repairs.I've now asked the property management company to apply a $4k credit for all the challenges I've had working with them.

Take action!

Yeah I have been back and forth thinking a lot and now it’s time to take an action.  

The rent plus his retirement will actually produce positive cash flow.

Questions like this often get better and more actionable responses.Also, keep in mind that while this site is an incredible resource, opinions can sometimes come across as blunt.

Is this just them telling you what they did before or are they actually going to give folks actionable and legitimate advice?