Please understand this (and I am not advocating using attorneys as a must) land trusts are very state specific and I would spend the money with a good experienced real estate attorney who is also an investor themselves.Spend a little more now verses a lot more later if it's not set up correctly.

If you give them a rent reduction, they're going to expect it the next time the junky AC system blows up (which is probably not too far off if you had to have people out that many times). 

It might put you behind a few years but you'll be thankful being able to sleep comfortably at night knowing you don't have to worry about a water heater blowing while you're also worrying about twins waking up. 

But there are some people out there doing it...I'll play devil's advocate on your win-win points.For the PM: "They get a large chunk of equity." 

There's no right or wrong answer- I would just keep in mind the business won't magically blow up the week you drop out - you'll probably need to find a job & ask yourself which path will you learn the most and have the most time to dedicate to your RE biz.

I live in Austin moved her 11 months ago from Melbourne ,Fl.There is a Huge overgrowth of real estate blowing uptoo many people not enough homes/apartments over crowded cityanyway I am a wholesaler I have investors list I just keep learning in between massage clients & cleaning houses best of luck we can keep each other informed if you are interested in investing in Austin San Antonio Area !

If I was you I would reach out to the legal counsel for the  D.C.’s Office of the Tenant Advocate and ask them for clarification.  

A real estate attorney I know says I can choose who I want (he is a pro bono tenant advocate....I trust this guy) if I charge no application fee. 

Mind blowing to hear this presented in this way!

Not an advocate of big gov, just do their jobs efficiently and enforce the rules evenly.