Property management is a pretty painful industry similar to general contracting... no one ever calls to tell you how grateful they are that the heat is working lolHere in Illinois, the answer is yes or you at least need to have a managing broker on your team as JW mentioned above. 

True again, but what if interest rates stay volatile for longer than expected, and the market stays locked up longer.Meanwhile the property is bleeding 6 figures monthly, and the added capital will only go so far, unless there is a major change in the interest rates soon, and that doesn't seem likely.They also say if we don't infuse more capital we may lose our principle too, as they will be forced to sell at a loss.

License bed transactions can be a real pain.

For them, it was painful. 

The house with squatters may need a whole lot of cash infusion.

And that's what they will do, keep kicking the can, avoid painful realities, inflate inflate inflate.

Realize that the eviction process can be painful but it is also likely that the tenant when they receive the notice to quit will find a solution. 

That's a pain but can be done, though you'll have complaints in Spring and Fall about it being too cold or too hot.

See what their pain points are. 

I would recommend finding a large developer to learn from or partner with so you avoid a lot of the painful early lessons.