I love my job where I work under the supervision of architects, but I feel that there is a certain creative freedom that this venture would grant me.

Customers who placed money with brokers should contact them directly for more information about the status of their funds.http://www.fdic.gov/news/news/press/2009/pr09013.htmlBank of Essex, Tappahannock, Virginia, Acquires All the Deposits of Suburban Federal Savings Bank, Crofton, Maryland Suburban Federal Savings Bank, Crofton, Maryland, was closed today by the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation (FDIC) was named receiver.

Perhaps be their private money lender at a lower interest rate than a HML, and in exchange, you will be helping them supervise the project and learn from them.

A salesperson's license (which I hold) allows me to assist others in transacting real estate under the supervision of a managing broker. 

After the purchase, I imagine I will be spending lots of time supervising improvements to it for a good while, until I can stabilize the whole thing.

Depending on how extensive the renovations are, in many cases the architect that draws the renovations plans and helps obtain the building permit is then allowed to supervise the works by signing a "declaration  as the responsible supervisor" and the city inspector comes at the end for a final sign off, allowing therefore for a faster construction timeline.

The problem now is that managing these people appears to be impossible without some type of supervision.

Unless you are there or know how to get the good deals, have a crew or someone you really trust to supervise the rehab the costs are significantly higher than what the people with boots on the ground pay. 

Just so you who is responding to you was a licensed real estate broker in the state of Texas for about 30 years as well as being a construction manager for about 30 years too, I actually ran several businesses along with job estimating and supervision in residential and commercial projects and ran my own business when I has the medical problems.What I would advise you on is to keep investing and live on that positive cash flow will make you a real estate professional and give you financial freedom that pays all of your regular bills and puts you in control of your life and spend more time with your family. 

How many people come into the ER every night from licking paint chips vs the other thing.And if the lead test comes back positive you will have to rehabilitate the lead areas and rely on (pay) your PM to coordinate and supervise that.Good Luck!