Invest in better insurance instead of so many layers.

This is a vital step in the art of negotiating.

They are providing the real service and consulting layer, and will use one or more custodian's for the back end role of simply holding the IRA and documenting the IRA's ownership in the LLC entity. 

Ultimately, we are still making the decision on what to do when an issue arises; adding in a Management company adds a layer of complexity.

For colleges to be bankrupt, you need multiple layers of destruction to the market -- employers not needing degrees for professional jobs (not going to happen), government not backing loans (not going to happen), banks not covering the loans that the government won't back (not going to happen), alternative options viable both to students and employers (may happen, but not a seismic shift over a short period of time) -- what you've described doesn't have the likely disruption needed to destroy that engine.I agree you need to be disciplined to work from home.

You are basically adding an additional layer of complexity to your existing business model. 

But since there are two layers there is more protection. 

For experienced investors, they can be a vital part of your team - closing your deals for you while you find them.My $0.02! 

If the death has occurred several years ago, it will likely not be the health dept (which often only keeps records for the past year or two), but the vital records office.

A few thoughts:Go over the contract IN DETAIL  with EACH resident - after screening each one as you would anyone else (income qualifications vary).All students are required to have a qualified co-signer: it protects your interests and gives a layer of accountability that helps in many ways -so you don’t have to use it.