Increase Your Cost Basis: Document and include the costs of significant improvements made to the property in your cost basis.

Both times the owner's insurance company ended up covering us and NOT the owner (their client) and the owner had to pay our legal fees.Your PMC doesn't seem to be on top of this and you state is already blaming you, so you may need to document that they are the problem, not you.

You would have ongoing filing requirements with the State and would need to keep business records and documentation.

I recommend you do a google search for "real estate seller financing" and educate yourself through some blogs, then have a conversation to see if the two of you can agree on terms that work for everyone.Be sure to use an attorney to draft the documents, not the same one the seller uses.

.- Will still be challenging to acquire a SFR at a low enough price to justify the cost of any conversion.Regarding Michigan property taxes, we have a one-page explanation document we'll share if you DM us. - The challenge in Detroit is that the city is "deliberately" keeping SEVs low to not scare investors away over property tax increases.

A good vendor will often provide insights and a documented professional opinion, which can serve as third-party confirmation.

I've considered a short sale, but am under contract, I think, with a buyer already due to the commitment to sell document I signed...

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

That being said, here’s what I would recommend for a thorough DD process:-Build a plan in advance (setup a spreadsheet, meet with the team, etc)-be prepared to take a lot of pictures -document notes with each room (we use notes on Apple and share it with the team)-align the team on standardizing information (example: what does “bad” mean, what does “okay” mean, etc - everyone looks at things differently and you want to make sure the notes are accurate during your debrief)-bring in professionals for things you can see, like sewer lines hope this short list helps! 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?