Your options will be limited, You can file documents that will allow you to go after bank accounts and garnishments but that gets more complicated and he may need legal advice to do that.

I keep getting told that costs too much, but I would affirm, if the loss of cash flow to properly finance the risk of your endeavors is too high, then it’s probably not a good deal, and look for a better deal.

Yes this is much cheaper than having a landlord policy that covers the dwelling structure and loss of rents.Ex.

With depreciation it is a loss and therefore self employment tax is 0.

Neighborhoods without that much building have a much more limited supply (although they change less too.)  

I will assume you have insurance against loss but the quality of the ins company can make a HUGE difference, and god forbid you need to be made whole from a catastrophe you will wish you had paid a little more for a top rated firm.

After the last crash, Private Equity companies were doing this with a flawed model so they saw great losses, these companies are trying to use a more refined model however I still see gaps, the big upside is if you gave people the option of using a well known brand like Redfin or using the stranger who direct mailed or cold called you, Redfin will win most of the time over for those who are on the fence or uncomfortable with the situation.

Even in the case of true below market rents, the act of raising the rents will cause a loss of some tenants, which results in a loss of income and the expense of obtaining new tenants. 

Regardless, this left me with limited options. 

.- If you have limited reserves or funds to invest and need a full-time job, that is different.