It would involve putting an external staircase on the side of the house and making the second bathroom into a full bath.

What did your management contract state about screening prospective tenants and your involvement? 

There are lots more that require a little bit of human interaction and a few more that need full involvement of a person - answering the phone, some AR and AP.

My question is since a lender is involved and I will be drafting up a contract how do I protect myself as to once I hand off the home he doesn't end up pushing me out (there is no sign of such and there is trust but this business)?

Depending on the ARV, I think you are better of using your own cash or getting a partner involved to finish the rehab and then cash out refinance with a conventional or DSCR loan.

Given the legal challenges that can come with Foreclosure, I recognize the importance of having an Attorney involved for the Foreclosure process.

Too many people involved to do a relatively simple transaction.

This is only one area of real estate that should be addressed, and it typically involves premises liability/property management type claims.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Self-managing can be a great way to stay directly involved, but it’s also important to consider the demands it can place on your time, resources, and expertise.I'm certain, you have experienced some real frustrations with that PM company, but a strong property management company that can align with your overall needs, can sometimes be a priceless investment when it comes to staying compliant.