All I did for the entirety of possession was collect a check.

It's nice just sitting back and collecting interest instead of running around meeting with sellers, contractors, title companies, etc.

While my primary focus is to grow my portfolio, I want to make the best use of the leads I don’t pursue (ones that don’t have equity) and collect referral fees on them by referring the sellers to other agents in my firm.I was wondering if anyone has done this successfully and legally.

Otherwise maybe you can collect a consulting fee for walking your buddy through the steps that THEY will need to do in order to manage the property (still guidance, still earning, but NOT managing the property).That's all I've got. 

We haven't actually even started collecting rent on either yet but I think we're close on the NS one.Those were both more of a personal purchase (with rental perks) but trying to figure out where to buy an ACTUAL investment property and not thinking with my heart so to speak is much more difficult!

Am I allowed to pay the mortgage through my LLC which is collecting the rent?

I am worried that you may have to carry a gun to collect your rent in this type neighborhood.

I would collect 30 years amortized payment (P&I) and balloon in 3 or 5 years.

Ask the bank or the property manager that collects the dues.

You should also request bank statements to verify that the landlord has in fact been collecting the rent amounts specified in the lease and on the rent roll.