We are super busy, and aren't really in the business of running errands for tenants and then bringing keys to them like their own personal assistants.

I pick option 1In my opinion, you shouldn't do business with friends.

Just regular business income?

Hopefully, through all this mess, I have a partner we can do continued business with.

Going to school for business analytics with a minor in economics.

Can someone explain the contract process I know it is private property vs real property so that will affect how you go about it.

You do not need to have a license to manage an apartment community.Property management can then be broken down into "annual" property management (normally a unit without furniture), a seasonal rental management (such as 2 weeks to several months up to 6 months) and then vacation rentals (sometimes for the weekend, a week, etc..).Each state has its different rules and licensing for each area of property management (annual, seasonal and vacation) as well as the different areas of management (association, apartment and property).I hope that helps.My understanding is that if you are an EMPLOYEE of the property owner you do not need to have a license; if you provide property management services as your management co owned business or as an independent contractor, then you do need a license.  

Hey everybody,Getting starting in house flipping with my business partner soon.

Check out private property rights!

Build your toolbox to success in this business.