I would agree it is not ideal to have to invest remotely but with the webs and stuff, some do ok even with that hurdle.

"I deal with older clients and they want EMOTIONAL piece of mind that their estate will help their children and grandchildren to a better life after they have passed." ...

If so that means you are satisfied with their performance and you should probably keep them.If not you should probably let them go at some point and ideally recoup as much investment as possible.Ultimately it's about maximizing property performance.All the best!

Ideally I would enjoy a mentor!

Ideal owner would be buying to keep it as a rental after 4 years of ownership it automatically has clear title.

Looks like you found the ideal solution.

I'm finding that in my market, it is incredibly difficult to find MLS multi family properties (in a decent or better neighborhood) that meet a buying criteria that is ideal based on some of these things you mentioned.

For some tenants the deterrent of not having their lease renewed can be effective in improving their performance.For the demographic I deal with, the problem with late fees is that if they are occasioned by difficulty in paying the rent it makes the thing they are trying to prevent (late rent, no rent) that much more likely.Running a business entails evaluating the commercial smarts of any course of action and is  more nuanced than just trying to collect every dollar a contract says you entiltled to.

Grab a condo nearby and fix it up how you like seems ideal.

I agree Dave, many of the investors I deal with only stick to 1 market.