If you don't use it - don't take the $, but keep funding your maintenance bucket so if a HVAC dies (or other major event) you have funds to address this event.If you are using a property manager (not hard to manage your own if you properly screen tenants & handymen), consider that if their efforts result in high maintenance or repair costs, or they rent the home for under market rent, their exposure is low - but these factors greatly impact your return.  

Although we did just have a cool front and the high was only mid 80s.This house is my first exposure to window units.  

Why not give your purpose more exposure?

If your PR has no interim powers to complete the contract now, you'd have the potential exposure of threat from a PR who does not complete the transaction for one reason or another or a competing petition for probate by another family member or beneficiary of a competing will.You, like many who post on BP, want a black and white answer when the facts and circumstances suggest you wait.

This exposure will give you an idea about the different roles required to conduct the business.

While my true exposure to real estate investing came in college I remember my first "real start" in real estate investing.

Lastly, I promise, unlike the stock market, your exposure to loss in REI is infinite. 

As your portfolio grows, you will find, depending on the size of the bank that they will want to limit exposure to you as a single borrower or impose restrictions on you like you described so it's better to have multiple options.

(Assuming the condo association  and a other aspects are good) I get the same sense from my limited exposure to Philadelphia that it too is probably not a good town for condos.

Thinking of buying a 5BR house in the city of Philadelphia and renting by room to 5 unrelated young professionalsThe house would be 3,000 Sq ft new construction and meet all forms of habitabilityNow here's my question - assuming more than 3 unrelated persons in a house is a code violation and worse case scenario that neighbors call or tenants for some reason call L&I1 - what is my potential exposure with the city.