As a mortgage broker I will tell you hang onto that until that W2 job as you are building.

Your actual knowledge that they are living there is probably enough to hang you.

They go out of their way not to assist in the transition to new management and simply hang up the phone each time they call. 

Hi Tony, I would start by reading a few books and hanging out here on BP.  

There hasn't been this huge wave of foreclosures or short sales as people are hanging on, doing cash-in refi's or doing work outs with lenders.

We purchased the property because the 3rd bedroom is a daylight basement (3 story townhouse) with an ideal space on the top floor to add a 4th bedroom (seemed to be low hanging fruit for a future refinance).

With a closed off kitchen, do you think the parents are going to hang out in the kitchen while their kids and their friends get rowdy in the living room?

Go ahead and give a couple a call and see how fast they hang up on you when you tell them you're managing other people's short term rentals.

But only your post is getting nuked.As far as the other complaints:- "BP is not a serious site anymore" - then why even hang around and post? 

If your wife has a real estate license but doesn't hang it with a broker, does that still count as a real estate professional?