Be thankful they are taking this step on their own to ensure they don't get behind and stick you with unpaid rent.I'm sure how much they may be approved for varies on a case-by-case basis, but I have tenants who have paid the full rent for multiple months through COVID rental assistance.Your role is limited, and in my personal experience requires just a bit of information on the balance due and a signature.

Out of the eight units I own and manage, I have had countless tenants choose our properties due to in-unit washer/dryer.

I think it's important to explain that not all advisors/planners work for companies that push commission based products, but it sounds like that is where your experience was.But, I do agree that it's probably a good idea to separate those roles though... and not bundle a "jack of all trades" into your financial life.CPAs often look in the short term, and not the long term. 

I didn't have the time to fix and flip, or buy one single family home per year, and try to manage it.Two big differences between SFH and Multifamily.

It's possible the deceased father agreed to let her manage the property and keep the rent net for her troubles, but the title/ownership remains in him so his heirs would inherit it as a legacy.I suggest your friend familiarize himself with the statute of frauds which I believe requires agreements regarding real estate be in writing to be enforceable.

It's important to take your time with tenant screening and be prepared to manage the property yourself.

For 15 years you manage to save up $20k per year and you have the missing $300k to pay $400k in cash.

My role is to make sure that I'm confident in the team and investment philosophy after the initial due diligence. 

I thought it was incredibly hypocritical when I worked for a bank and got those requests from "risk management".

If you simply want to "get involved in it" I would suggest seeking out local, licensed property managers who are hiring.