Do you think you’ll stay in the same market as your grow your portfolio? 

Third, develop a property management model and plan to keep expenses low and revenue high. 

It's possible the deceased father agreed to let her manage the property and keep the rent net for her troubles, but the title/ownership remains in him so his heirs would inherit it as a legacy.I suggest your friend familiarize himself with the statute of frauds which I believe requires agreements regarding real estate be in writing to be enforceable.

I thought it was incredibly hypocritical when I worked for a bank and got those requests from "risk management".

ClairI have two duplexes in my portfolio and live in one.

 Hello, I'm looking to diversify and hopefully build a portfolio of rental investment properties.

. - Portfolio and private loan options.

At my company we specialize in rental property management and we also would be happy to be a resource for tailored advice to ensure your future investments align with your financial goals.Feel free to reach out if you'd like to discuss further or if you were to need property management solutions in the future.

I want to diversity my portfolio, and I want to get into multi-family apartment complex. 

Consider how moving your equity to a large MF will work within your portfolio as a whole.