It separates your personal assets from your business, providing a safeguard if any legal issues arise related to tenants or the property.

We have tried multiple local collection agencies, and we have not received a penny for over a hundred thousand dollars of bad debt submitted to them.We keep hearing, "It takes time" but it's been well over a year with the most recent one.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I am wondering if anyone has ever taken legal action against property managers, and if they think we have a potential case? 

If you have a lot of equity and little cash flow, you should consider accessing that equity to use elsewhere.Another factor to consider is your interest rate on the debt.

Even if a title company were to manage the setup making sure all parties are paid, the cheap debt and cash flow would not be enough to be enticing to any investor even if midterm rental could yield a healthy return. 

A buyer agreement is the legal document that provides the agent with the assurance that he/she will get paid if they work with you to complete a real estate transaction. 

None of us can give you legal advice!

You are like many others who are getting started and unfortunately your generation is screwed because of the amount of spending is older generations have done and put the debt on you which also has led to record inflation.All you can do now is plan for the future and don’t force things but invest wisely when the time is right.

Eliminate debt, establish a budget, and save.