I looked into it, and came to the conclusion that it was not worth it unless you’re doing several high value deals (e.g. does not make sense for unloading $5K trailers) each year because there are a whole slew of other regulations you have to comply with in order to do it properly, such as becoming a state-registered lender, putting in place anti-money laundering processes, etc on top of getting your Mortgage Loan Origination license. Basically lots of paperwork and CYA for the government to show you’re doing business as a relatively honest and fair person.
Ken @RishelConsultingGroup offers packages to do this based on your needs. Would recommend you look up his website and give him or Diane a call to see if it makes sense for you.
For Rent Credit you can stipulate that you will make repairs, but that amount is capitalized to the value of the home, so they pay for much of it and are incentivized to only ask for repairs on critical items. If they are calling you for easy-to-repair items then are they really the type of home owner you want in the community? Sounds like a good reason to non-renew and find another tenant who will have pride of ownership behavior.
Rent Credit has not been tested in the courts and lots of people are doing it, and on the other side only those blatantly ripping people off are being brought to court for Dodd Frank violations (think payday lenders). As time passes there will be better guidance and testing of these - for now the onus is on you to decide what makes sense and to the extent you should comply.