I read a book by Norm Brodsky (Street Smarts) and he said when he quit practicing law to become an entrepreneur he worked several jobs on the ground floor (including a car wash!)

Newport Beach is practicing STR since ever with no issue.

It practically takes murder vs threats these days.

Practicing real estate without a license is a felony......why not just get your license if you want to be in the business?

Furthermore, there may be a standard of practice that most apartments and landlords follow in your area which may be more lenient.

I don't think it is practical tough.

I had a property management company that is offensive in their charges and their accounting practices.  

On the practical side, why would anyone lock themselves into a 3% interest return when the fed is raising interest rates quarterly?

I attended a landlord bootcamp which I HIGHLY, 100% RECOMMEND even well experienced landlords go to, not the city run one, which I also have been to and came away thinking it should be called the "tiny bit of good info and LOTS of veiled threats if you're a future slumlord class" but its from the Apartment Assoc of SE WI (I'm a member for full disclosure) but you'll get 8 or 9 hours of PRICELESS info directly from the attorney who my usual, general practice lawyer said is hands down the one to call for any bad eviction or potentially big liability type deals and he'll go through things that the city for one, would never dream of telling you, such as how in Milwaukee Cty, our judiciary is very biased to the left side of politics as you'd guess for a generally left leaning county, but that many of these judges take those political stances right into their courtrooms and you sure as hell better be prepared for rulings that fly in the face of the current laws, especially the changes made a few years back when the GOP gained TOTAL control of state gov't in legislature as well as the governor seat and as was national news at the time, went like a machete through the law books and fixed a lot of things needing fixing, including several relatively minor aspects of landlord/tenant laws that COULD be exploited, as well as stuff that didn't make sense anymore, etc.

Less serious but practical ...how can you even communicate effectively warnings, policies, updates, maintenance, reminders etc..if you don't know 100 percent who should be living there...I have guests at two weeks maximum after which time they need to move on or get on the lease....best of luck on this issue..great discussion..