At a glance, RE management isn't there, neither is:Advisory and consultation servicesEngineeringRE schools, owners, administrators and teachersRE Brokerage management and support servicesRE publications (Homes magazine types)Industrial/commercial RE managementMarinas are considered REAspects of municipal and state land management, they sub contract servicesFree lance settlement agents and title examinersLow-Moderate Income Housing administratorsNon-profit housing entitiesHome inspectorsRecreational Land Mgt.Construction ManagementAgricultural Land Management,Timber managementEnvironmental Land/Water Mgt.RE Brokers/agentsRE Brokerage support services (training, admin, escrow, advertising)Asset ManagersTrust Administration, RE DeptsAppraisersI don't consider notes or seller financing as a RE function as a finance function, if you toss that out of it's industry into RE, then...Note servicersAttorneysMortgage brokers.Note brokersLoan Modification SpecialistsMortgage underwriters and processorsGovernment employeesOh my gosh, the IRS has RE lease specialists, every military installation has land management, every building has maintenance, air ports have RE managers and lease specialists, Assessors, County Administrators dispose of RE, I'm not going to mention HUD employees and sub contractors.

Is that difference worth the headache of 3 tenants, unexpected maintenance costs, and administration/ paperwork of rental investment property?

I believe that if the PR has letters, granted the petition and is named executor/administrator then you can work directly with him/her and you may be able to dodge the judge's approval.

You are correct to look for professional helpbut not only from a CPA but also an attorney preferably tax attorney familiarwith IRA’s etc.Your custodian/administrator should be able to give you a listof proposed CPAs/Attorneys that other clients use. 

The administrator guru suggested I introduce myself here.

Got a call from the son of the deceased who is the administrator to the estate.Wondering if anyone is willing to comment on what their exit strategy would be, given this info:ARV: 325KOwe: 200KPayment: 12001 month in arrearsest repairs: $15KThe son seems very motivated to unload the house.My initial reaction (being that I don't really have any of my own capital to work with) would be to wholesale it.

Most will be administrators, not executors.Also consider mailings to heirs/beneficiaries.A comprehensive campaign includes mail > knock > call effort.Send letters, not postcards.

You keep saying trustee, but trustees are administrators, not owners.

There are several other expenses that you have not listed:- Vacancy %- Lawn care- Snow removal- Utilities for common area (if applicable), Utilities during vacancies- Pest control- HVAC maintenance- Plumbing- Administrative (evictions, bookkeeping, advertising, etc.)- Property management - You should budget for this even though right now you plan on self managing.  

You can take participant loans from the plan, you don't need the additional expense and administration of an LLC to have checkbook control, and there is a built in-Roth component.