If you think it'll location and and innate qualities are great enough, then find a spot on edge to begin your empire.

You need to have as many great reviews as possible, because there are only like 5 spots on the top page, and if you're not on there for that specific search date, in the customer's price range, they will never even find you.

Because honestly at 4% you could possibly make a better ROI in the stock market or mutual funds.

I did find some background on him and it seems like he's been mainly focused on stocks, etc, right?

Home Depot in stock cabinets are just fine for a rental.

That was a bright spot in an otherwise frustrating relationship.Combining your advice, I think I will try and minimize face time (which should inherently minimize conflict), have the yard cleaned up, collect rent (impersonally) and then find a better fit in tenants when they leave (which they will certainly do for work reasons). 

His attorney has suggested we secure the loan with a pledge of stock in his company, but I'm concerned this may come across as a partnership and trigger UBIT.

As the years past, we had all of our money in stocks which we lost a lot in 2008.

Its much like looking at stocks and comparing how well each has done and looking at its 10 year history, like Benjamin Graham taught.

Plus you'd have access to 401k funds to invest in things that return better and less risky returns than the stock market.