Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

You'll invoice the tenants on whatever strategy you set up in their leases.

Flat Fee buyer agency to reduce acquisition costs (get ~2% of the sales price back), and flat fee MLS listing to reduce selling costs to ~$500.

Also, how much does it cost to get set up on this patented software system?

While I have a general understanding of what it takes to set up a fund, I’d love to tap into the collective wisdom here.

I’d think long and hard about this and possibly set up financial parameters for who is responsible.

You could still move out in a year if you don’t like the setup. 

The quicker you can take action on the high dollar value decsions the quicker you will be able to grow.For sure take the time to setup the right foundation, but keeping it simple and easy when you are getting going is a safe bet!

Pretty sure it works in reverse also - set up a Michigan LLC for the property above and you'll have to register it in your state of residency. 

Many BP members have “keywords” setup.