How can a financial institution manage risk if properties are secretly being transferred to unqualified applicants with attorneys actively coaching clients to circumvent and conceal covenant breaks.

Currently, I have one LTR and aim to scale my portfolio while maintaining my day job.  

I have a vacant rental that I am trying to use a property manager for the first time in Sonoma County (Windsor).

Either leverage an existing asset (stock portfolio, for example, if you have one) or leverage a relationship (like partnering with someone). 

The purpose would be to rent it out through a property manager just like a regular single family home.

But the majority of the time, doing the active diligence can ultimately provide the best experience for any placed tenant which in turn will ultimately help yourself, if a property manager, maintain a healthy relationship with your portfolio of owners going forward for them. 

But when I started self managing in my units in San Diego, it wasn't terribly difficult.

Looking to build a Real Estate portfolio to reach financial freedom, interested in BRRRR

There is not standard as to whether Property management is included in NOI.

If you don't you need to learn how to be a landlord real fast, get out of the rental business or turn over the property to a property manager.