The family purchased a lakefront property in a nice area three years ago but then ran into a series of issues, and have abandoned the place because of them.They are hoping the bank allows a short sale (asking for roughly $20,000 under what is owed)Here's what's made them so unhappy:Anytime they used the laundry it was dumping into a dry well, which would back up into the house forcing them to take their laundry to a laundromat instead!!

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As you are living in the US and might this virtual LLC office work, it could be an interesting option. 

An LLC is useful for two things: anonymity and legal protection.

Now they want to put the properties into RE Gain Fund, LLC UpREIT (which appears to have been established in 2023). 

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I would have internet and a streaming service -I like FUBO because they have everything else but a focus on sports, which can be hard to find on some of the other streming services...They should have their own accounts if they want to watch their favorite series or whatever...

Let's wrap up our QI selection series with the human element - because relationships and reputation can make or break your exchange!

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

The main reason cited that as a small property owner, not using PM's, if anything happens, the LLC and you will be sued anyway.