Is there anyone out there that has insight to this?

Is the state a fan of those who manage in this manner, not so much, but a good reply is why they don't take issue with the countless employed non-licensed managers at apartment communities all over?

This sounds like an exciting venture!

Are you able to go there in person to build your network? 

Purchase price: $360,000 We bought this stacked duplex, lived in one unit for 2 years and moved on.

I also heard Brett Immel was still doing business in Iowa, though I read an article that says he has been busted for lying during a bankruptcy hearing and may go to prison for 5 years.Would it make sense to contact the S.E.C.?

I want to invest in two properties in California.

I'll wrap this post by pinging two other Japan-based American investors for their thoughts (until they actually tell me to stop doing this): @Steven E.

This doesn’t necessarily sound realistic in a real world scenario. 

I had the lightswitch moment after investing in NC for a while and I would get ok cash flow, but the properties I owned all doubled in value in about 5-6 years and I realized I could appreciate my way to financial success much faster than I could cash flow my way there.