Is there a governing body that does those sort of things?

-Bodie

Presumably that comes with some required SEC fillings and additional regulatory concerns.

No matter how much automation you get set up something is going to pop up that you didn't plan for.This person just has to be a warm body that you can have go onsite and report information to you.

Just to clarify, the "state" doesn't provide these forms, its a private body TREC that does.

For every 1 landlord trying to do it right you can bet there is 1 that doesn't' care, just putting a body in.  

Hey @Caleb Reits - I highly recommend still mentioning Grand Rapids in your title and in the body of your post.

Some places also defer licensing to the relevant industry regulatory body (etc: EPA for HVAC).

Time costs, material costs, regulatory costs and mistake costs.

But they start with you using the services of a Qualified Intermediary whose job is to be your guide, and keep you in between the regulatory lines.