Unless you plan to pair it with a construction division or can build out a brokerage and the property management is utilized to bring in and/or retain business, it's not a great business to be in if you plan to manage 3rd party assets.

One to continue my business out of, and the other to retain for cash flow. 

If you retain the original inherited IRA in liquid investments at the current custodian, but transfer only the amount you expect you will need for the real estate investment to the new self-directed inherited IRA account, you can take the required minimum distributions for both accounts from the one holding the liquid investments. 

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

AS for lawyer contacting you unless they are going to do it on a retainer I cant see someone who is in default paying for this.

as the neighbor would retain some value in the land (easement for drain field) and the land is essentially un-developable, what is a fair price range?  

I would also include a link to this access story that's still playing out.Lac du Flambeau tribe won't lower payments for residents to access reservation properties (msn.com)--------------------I agree with Peter that once the claim is allowed you let the attorneys retained by the title insurer take over fully... getting yourself or your own attorney involved just increases the risk of screwing things up. 

The LLC cannot hold cash or "retained earnings" and any income must be passed on to the owners at the end of the year. 

Speak to an attorney and have them on retainer.

How many tenants have the funds to pay a retainer fee to an attorney to handle the lawsuit?