Thank you Luke, Nathan and Dean.Yes I went over Management Agreement, but obviously misunderstood this part of it (this is what was in Mgmt.

I'm based out of the Bay Area, CA where housing demand continues to outstrip supply and prices/rents seem to escalate endlessly (famous last words I know).

@Sudeep Jain it all boils down to the famous line by Eastwood..."

You do have to pay insurance usually equivalent to about $100 a month per $100000 you borrow according to Brandon Turner's(Famous in the BP community and on podcasts/webinars) book on investing with no and low money down.

What happens in these misunderstandings is that something goes wrong either in the sale or after, and then they sue you for some statement you made that they “misunderstood”.

And yet there is a famous saying that "Faith without action serves no useful purpose."

Either you completely misunderstood what your accountant said, or they need to be fired.

One section from the famous book Rich Dad Poor Dad that I will never forget is don't just say something doesn't work and forget about it.

They had misunderstood what floor the unit was on.

Also, Eastpointe is another town that sits directly across from the famous 8 mile road and makes another great rental/ flip market.