However, he (you) should keep it "clean" and not also use it for personal reasons.

or do you have personal experience with any ? 

I do recommend a cap and you can also have thermostats with upper and lower limits so one person can't set it to 80,  put those limits in the lease. 

Talk with your tax person or a 1031 Intermediary.  1031 must be land to land. 

I could see this being useful in a BRRRR scenario, but in that case you could be looking at a much longer term loan than 30-60 days, especially given supply chain issues and the uncertainty of the person being able to qualify for the cash out loan as rates continue to climb.

I guess, my training and many years of experience could qualify me for being "real".

But there’s an Encumbrances that was posted by TD Bank, by my research was either personal loan or business loan default.

I am located in Jax Florida and use my realtor license for personal deals and occasionally help others. 

But it comes down to if you want to personally get down and dirty to learn the work or if you want to delegate to a third party. 

This encompasses eleven authorized activities within the real estate sector, including development, construction, leasing, and brokerage.750 Hours Test: In addition to meeting the 50% test, individuals seeking Real Estate Professional Status (REPS) must surpass 750 personal service hours materially engaged in one of the specified real property trades or businesses.Understanding Material Participation:Material Participation: Only hours deemed material to the operation of a real estate business are counted towards qualification.