<eye roll>Be careful.

I have made it clear to notify me if repairs are out of his expertise or just doesn't want to deal with them, so I can take care of them.

I have quite a bit of cash to invest as well as many friends and family in the area that could prove valuable in caring for a rental property.

A little bit different of an example, but similar enough.I hope that helps, and good luck!

I feel like that would be the only way to make the decision, it comes down to numbers and if everyone else is doing coin-op, you could pull it off even with the higher rent and probably no one would care.

rehab -  I would be careful of 'forced' appreciation.

You're squeezing every dollar out of this thing doing your own PM and work, and still barely making anything, so I don't see this as much of an opportunity.  

Check carefully who will be required to do the exchange, what the actual basis is, and your personal reinvestment requirements if applicable.   

I always went out and made a buck, and I always took care to protect whatever I accumulated.

or just tell them he's your guy who takes care of that department and leave it at that.