Managing property for someone else, no RE license - AZ

[Alik Levin]

Dear all,

I have just read that in AZ one can manage someone else's property without having real estate license if that's only one property.

The question I have is this: is it only one property all up, or one property per someone else?

For example, can I manage 10 properties for 10 investors who has only one property each without having real estate license?

Thank you!

-Alik