In any event, the real answer --- as you know --- is to talk to a CPA or other qualified tax professionals. 

@Josh StackI would just mail them a very professional looking letter letting them know you are interested in purchasing their portfolio.

Be prepared to not get paid much for a couple months while you get things going, and then be prepared for the market to change and give you a dry spell.Some common expectations with having a RE license is that you'll work in a professional industry full of professional people that treat this like a business and treat colleagues as such; However that's not really how it goes.  

This property we were targeting a couple, retiree, single business professional.

Besides introducing myself, I'm looking to network with individuals both my age or older who are active on these forums to build a young investors/RE professionals group in Socal.

People hate conflict.....so they ignore what they should do because it can be "messy' and hope for the best....and then seem shocked when the outcome is 100x worseYou don't have to be an a-hole to handle this in a professional, tactful and friendly way......but it should be handled, not ignored

The house had a crack all the way on one side of the house - stretching from living room, dining, kitchen and bedroom.

We typically rent to urban professionals for above market rental rates. 

There are tons of numbers and interconnected relationships going on in our professional commercial multifamily spreadsheet.

Property manager I spoke with would have fees of 7.9% and 1/2 first months rent on a new tenant.Is this the perfect time to manage our property or should I leave it to the professionals to save time and headache?