Another one to consider is the FHA 203(b) if the repairs aren’t too major and you’re okay handling some out-of-pocket fixes.

I am wondering if you are making some assumptions that just aren't true. 

And, even if he has real estate clients, doing a tax return doesn't really educate one.

Seeing as how in today's society the rich get richer and incomes aren't keeping up with the stock market, people in rich areas can afford richer rents.

Avoiding Licensing Requirements and OversightBeing licensed often means adhering to strict state regulations, such as disclosures, fiduciary duties, and mandatory continuing education.

And interest rates probably aren't coming back down anytime soon.

Old properties aren't a bad thing as long as you account for the big four- HVAC, foundation, roof and sewer.

Focus on education, networking, and analyzing deals carefully to ensure your first investment sets a strong foundation for future growth.Good luck!

Bigger Pockets is a great place for education and networking. 

And many hotels don't have 24 hour desks or 24 hour service.I don't get why all these newer regulations expect STRs to operate to standards that aren't even required of hotels with full-time staffs.