Without getting too much into his personal life, he is a disabled veteran and simply can't maintain the property. 

They run it, landlord it & pay to maintain it & it has been a VERY successful endeavor.Case in point, we picked up a foreclosure back in 2005 for $13,500, spent $2000 to make it livable then sold it (CFD) for $38,000 @ 13% over 15 years & he has the same tenants & has never missed a payment.

We strive to maintain 94-96% occupancy, and utilize this to ensure we aren’t leaving money on the table.

The properties I’ve seen have dropped their price in the last months (both in rent and buy), my biggest concerns are the restriction the HOA could have in the future and the fact that the fee could go up any time, but on the other hand having that fee let’s you know that the building will be well maintained.

I can't charge my tenant because I failed to fix the uneven sidewalk or failed to maintain the gutters.

All they want to know is that the property will be maintained and that they won't be cheated by a slum lord.

But agree taking proper steps to maintain good accounting and keeping personal and businesses separate is good practice.

However, many other functions require a license, such as advertising and maintenance.Although an agreement/contract can theoretically be made for a limited scope of work so that no license is required, it may be very difficult to maintain (especially with family and friends!).

We want to maintain ample reserves until our unit mix allows us to offset the risks a little more.

And you have ongoing expenses and continued education to maintain your license.Most brokerages support a single agent culture, so it's a bit of an uphill battle.