Michigan LLC Formation for Rental Properties

[Ken Solonika]

My wife and I purchased with cash (83K) a rental property in Kalamazoo, MI. It is a 3 bed/1 bath ranch. We rented it for $1180 per month + $1000 Security Deposit + $400 non-refundable pet fee. They renters (2) have a bearded dragon and an adult cat. They are on a 13 month lease. After CapEx, Insurance, Gen. Repairs, Vacancy, and Taxes the positive cash flow is at $710 per month. It is a solid property on a homestead cul de sac. If I listed it on the MLS I'd likely get 99K to 105K offers within a few days.

This Tuesday my wife and I are buying a second property, a 2 bed/1 bath brick ranch in Portage.  We have renters lined up for $1080 + the deposit and pet fee.  The positive cash flow will be at $600 per month.  For approximately 15K we could convert this property to a 3bed/2 bath and sell at 125K to 135K.  We are purchasing at $70,100.  

Right now we have a 2 million dollar umbrella policy for everything.

This summer I did file an LLC with Michigan, with me as the sole member. Very soon we plan to Quit Claim deed our two rentals to the LLC. I also have an EIN from the Feds. My banker says all I need to get business accounts is the stamped LLC paperwork and the EIN. I want the income to pass through the LLC to me, and then have the rental income taxed on our personal taxes. We are going to keep the umbrella but still want the LLC standing between us and any claims by tenants. We have our homestead, IRAs, and 403b's to protect.

What else do I need to do with the State of Michigan, if anything?  I find the State websites horribly written and unclear.  I'm trying to avoid shelling out big bucks on an attorney.

Do I need to register with Treasury?  Do I need to register with the Michigan Unemployment Insurance Agency?   Anything else?

Does anyone have an literature they would recommend?

Thanks for any guidance anyone can give.