Regardless, all of this aids in your growth as a professional.    

Newport's book is based on the idea that professionally we can adopt one of two mindsets, 1.

He is obviously experienced in real estate, Should I use short and sweet 2 page contracts or the more "legal and professional" standard 7 page contract?

That most professionals who are Entrepreneurs understand that building your business means you need to Drive it like a Car.

You've already got some amazing value producing income, sounds like it's time to just make this investment a little more passive.Mandatory Disclaimer: While I am, obviously, a big fan of this financial tool, I am NOT a financial professional and you should absolutely do your own due diligence, talk to fiduciary (super important) financial pros and assess this option in terms of your own personal financial situation and goals.

Anyone who works for a financial institution can be a certified mortgage professional, which means they never got training in mortgages, and don't even know when they are breaking laws. 

In the beginning you want to build your ratings so you want to charge market but eventually you want to be at the price point in which the business professional price points.

Also, if I do invest in these areas, I'd like recommendations for property managers, handyman services, and other professional references.Thanks.

Once you have a property under contract have it professionally inspected.  

They should have started the pay or quit and eviction process on November 2nd when rent was not received on time.Your friend needs to take the time to sit down and learn the regulations governing his business.