I plan on having my immediate family members sign a simple agreement since they’ve already expressed no interest in the house or items within. 

I was able to find out his contact information pretty easily with a simple google search. 

I'll be asking the tax office tomorrow as well when I go to research the properties, and anyone who will give me the time of day at the auction - even if it costs me buying their lunch and a couple drinks😂.And with regard to the rules/law, that's what predicated my initial question, it's so simple and clear I assumed I must be misunderstanding (quite the paradox). 

it's that simple.2. you switch to a landlord policy on or about the day the tenant moves in3. no, you don't refinance your mortgage just because a tenant moves in (unless i am missing something the two have nothing to do with each other)4. let the PM do this5-6 - up to you, you don't need either one when you're getting started7. too personal a decision to advise, but yes you need reserves - what if you need a new furnace or new appliances?

The other thing to keep in mind, keep it simple and buying things you don’t mind getting ruined and are easy to replace.

Simple and fair.First month received that $200 and was distributed as above, Everybody happy.Second month received $200 on time and PM break down that amount and claim there is $45 late fee, and all that $45 goes to PM account.

I jumped at the opportunity to learn the business and it has been amazingly simple.

Wisdom is learning from others' experiences/mistakes.Real estate education is relatively simple.

All that said...if you're not confident you can get at least 1.5x your LT rents as an MTR, I think I might go with long term but skip the management company and DIY. 

But, I believe that a fee structure like this is way worse than something simple like: "Good" Property Manager Fees:- 10% of rents- 50% or $500 lease-up fee- 25% or $250 lease renewal fee- 10% GC charge on projects over $1,000 (guarantees they will get 2-3 quotes on jobs of this size).- $500 - $1,000 flat rate breakup fee, payable only in year 1.This very simple, but higher headline, fee structure better aligns incentives.