The requirement seem so loose and so could I technically just have like 1 panel to fulfill that requirement?

REPS is for someone who meets specific requirements- at least 750 hours in real estate and more time on real estate than anything else; so having a fulltime job disqualifies someone. 

Many of the cities are now requiring someone to be a Local Agent in Charge if you don't live in Cuyahoga County.

Management & Leasing FeesManagement Fee: 10% of the monthly rent = $180/monthLeasing Fee (Tenant Placement): 60% of one month’s rent = $1,080 (one-time)Lease Renewal Fee: $250 per lease renewalUpfront & Annual FeesOnboarding Fee: $350 (one-time for setting up the property)Annual Administrative Fee: $45 per year (for statements and 1099s)Reserve Fund Requirement: $300 (held for maintenance and expenses)Maintenance & RepairsOrdinary Maintenance: Any repair costs exceeding $300 require owner approval.Emergency Repairs: Up to $300 without prior approval; HVAC, plumbing, and electrical repairs can go up to $500 without approval.Home Warranty Claim Handling: $40 per claim (if applicable).Multiple Quotes Request Fee: $100 per request if you require multiple vendor quotes.HVAC Filter Supply Fee: $195 per year per HVAC unit.Repairs & Improvements: 10% markup over vendor invoice cost.Additional FeesInterest on Unpaid Sums: 10% late fee with a $39 minimum per month.Paper Check Administrative Fee: $20 per check if not using direct deposit.Insurance Documentation Penalty: $40 per month if proof of insurance is not provided.Eviction Protection Program (Optional): $15/monthProperty Damage Protection Program (Optional): $25/monthTermination FeesEarly Termination Fee: Equal to the management fees for the remaining lease term.Vacant Property Termination Fee: $500 if no tenant is in place.Transfer to Another Manager: $500 file transfer fee.

This requires careful structuring and compliance with IRS rules.Installment Sales or Buyouts – Instead of distributing properties outright, investors can sell or buy out their respective shares over time, spreading out tax liability and reducing immediate capital gains impact.LLC Restructuring (State-Specific) – Converting the corporation into an LLC taxed as a partnership may allow for a more tax-efficient asset distribution.

It is my understanding that in Pennsylvania an escrow account is required for tenant security deposits.

I too have never heard of a requirement that a closet needs to be present to be called a bedroom, it is too funny.

@Cyndi Lees the thing that catches my eye in your post is that it would require quite a bit of work to get it started as a rental.

It may be worth letting them know about the prequalification requirements (credit score over xxx, salary above xx,ooo/year, etc.) in advance to weed people out.

I've done a lot of research into this and believe this is for me, but am getting some roadblocks when it comes to funding requirements and my buy box not aligning.