Going forward, I don't intend on being an active agent buying & selling homes, so my question is, short of giving up my license, is there any option to not pay all the quarterly board dues & broker office fees, E&O, etc., but keep the license in some "reduced" status, so I can still possibly reap the benefits of the real estate professional status for real estate investing.

What am I missing in the assessment that would change the numbers and in turn, change an investment decision? 

That's been my assessment as well, just want to make sure I'm on the right path.

I want to be an active part of the boots on the ground team until I know that I am working with the right people.

First of all you don't have as much control of your expenses, and HOA's love to under-collect annually and then sock you with large one-time special assessments to do repairs.  

I hope that helps you assess the ROI.

Say the property is assessed at 90k.

So I would suggest getting in touch with as many active MUF brokers that you can connect with just so you get the off market properties.

The longer you rent — and at a loss to boot — the longer you expose yourself to vacancies, wear and tear, or (God forbid) an HOA assessment or litigation.

One for passive income and one for the active side of things.