Hey @Benjamin Sulka VERY soon to be house hacker,MAN! 

I see your point, but it would suck to really start making some headway and then one "accident" cause you to lose everything simply because you didn't take the time and spend $200 to incorporate

Great job on incorporating search data which I personally think really brings an extra dimensions that investors mostly overlook.

The CC&Rs and articles of incorporation are like the Constitution, then Bylaws, then Rules follow. 

Or maybe you end up doing all the renovations and management while your princess of a sister does nothing but spend the money on new shoes.Better to be your own man and make your own path.

If the dynamic had been as simple as "you need an LLC" I would have gotten one for them, in fact Renovo pre-approved me but did require an LLC prior to closing, in Illinois can be done on line and I think it a 10min form to complete, $150 fee to expedite and I had my Articles of Incorporation the next day. 

At that point, it is simply cash and you can do what you want...just keep enough to pay the tax man.

Research selling under a Land Contract or Structured Installment Sale- It's an alternative to a 1031 exchange that investors use to delay the tax man.   

We practice "safe real estate", so this is all possible but not necessarily what will occur.This is not exhaustive and does not constitute any fiduciary responsibility, it is merely one man's opinion on a public forum.

If the man is an on-going liability to your property and a danger to other tenants, it seems to me that putting something on the door to keep it from staying open is the least of your worries.