This is a RE licensing law issue, not a RMLO issue.

Just want to make sure I am on the same page...Keep in mind when thinking about property managers, they have overhead of conducting business, including employee wages and benefits, hardware and software costs, utilities and rent for their office location, insurance costs, licensing costs for their employees plus the time and effort put into maintaining compliance with applicable laws regarding third party management of real estate assets.

What I learned when I bought: (1) I had mice; (2) lease violated almost every law in Ohio; (3) rent was not "late" until the 15th of the month; (4) gutters were installed wrong and front porch roof was damaged; and (5) the bottom tenants decided they didn't like the house and were not going to pay rent. 

Invest in a receipt book or create a receipt that you can send electronically.In addition, check the landlord-tenant laws for your jurisdiction.

That is just not the case and only makes sense strictly when compared to residential loan terms (longer amortization and low, fixed rates).

But yes, she should get up to speed on what is OK and what is not as concerns brokerage laws in her jurisdiction.

Complete the SD accounting as required by local law, mail refund check (if owed) and SD accounting to last known address, which is your rental. 

@Mike SchultzI'm not aware of any laws about wholesaling in CA.

There is no commercial tenant now, but there used to be a law office.  

Secondly, depending on your state laws (and left coast consumer laws won't help you)  the old "hold a QCD to avoid having to foreclose" usually won't stand up in court.....referred to as "circumventing foreclosure laws".I'm sure your market there is competitive, so the worst he'd probably do at foreclosure is the property sells for $600-$700k and he walks with $400-$500k cash.....probably much better than you'll do for him.