As far as their relation with the PM goes, the PM is the agent they used when buying the said rental, agent is local to Indianapolis, as for any form of PM agreement I do not know, it may be verbal, or they have a written agreement.Thanks in advance. 

If it does go to probate, hopefully your brothers and you can amicably go the informal route vs formal (I've worked with families in both when buying properties out of probate and informal is FAR easier).Since there's no debt on the house, maybe you could sell with financing or maybe you could even buy out your brothers with financing -- that way you maintain ownership and just pay them a monthly amount.

When you buy a stock worth $100k, you pay 100k. 

I either buy it in my personal name or a LLC.

It's called a payoff statementif it's a big lender you will not buy the loan as it will take forever, you are better just paying it off. you then can foreclose based on the total balance owed to you which is both loans and any accrued interest. regarding fixing property or selling as is, that really depends and needs to be evaluated on a case by case basis 

Because I did not buy this on Biggerpockets, am I not able to access the bonus content.

Buy a fourplex so you have a place to live and three rentals to cut your teeth on.

Brandon,Check out Indiana & Ohio for states that you can buy 2-3 for that amount of liquid reserves. 

Investment Info:Large multi-family (5+ units) buy & hold investment in West Allis.

We generally buy the property ourselves because that's what our marketing says we intend to do.