The issue is that this individual does not maintain a copy of the lease agreements for any of their property, doesn't maintain profit/loss statements, and can't tell me what kind of maintenance might be needed.

—In all criminal cases, contempt cases, and other cases filed pursuant to this chapter, if a party has sold, leased, or let real estate, the title to which was not in the party when it was offered for sale, lease, or letting, or such party has maintained an office bearing signs that real estate is for sale, lease, or rental thereat, or has advertised real estate for sale, lease, or rental, generally, or describing property, the title to which was not in such party at the time, it shall be a presumption that such party was acting or attempting to act as a real estate broker, and the burden of proof shall be upon him or her to show that he or she was not acting or attempting to act as a broker or sales associate.

Welcome, Joe, great to start with clean slate and little cash and time on your hands, I started in real estate after cashing out my stocks, savings and 401k paying being penalties but it was worth it.

I might as well buy stocks otherwise.  

You have to be able to maintain minimal emotional involvement in the property, you must be able to view it as an asset on which you derive income.  

My wife and I just started a venture in North Texas, we were able to cash out some stocks late last year and put a down payment on a SFH in a north dallas suburb.

I notice that the Newbie's on BP always want to jump in and start making Money with RE Investing as if it were Stock Investing.

I'm interested in buying a few shares of stock and I just contacted my SDIRA and they put all kind of restrictions. 

As a market matures the margins get tighter and you start to look for little things to maintain roi.  

Most of these appliances can last a while, and if it's newer, looks well maintained and branded, you should have little issues.