Also, I believe there’s really only one PM company in the local Marquette county area that has a Real Estate license, which is needed to legally manage other peoples rentals in Michigan.

The tenants in the 3 bedroom rental aren't in a protected class but I do not want to get in any kind of legal bind. 

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

I use the 1% rule to quickly assess if a property is likely to generate enough income to cover its costs and potentially provide a profit - it's a guideline - so, don't miss out on good investment property by being rigid when applying the "guideline" to rental properties.

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

You paid 1% origination, closing, legal etc, and 4.5% interest.  

**NAHB Contracts**: The National Association of Home Builders (NAHB) offers a variety of detailed and standardized legal templates specifically designed for the residential construction industry2.

-Proper SEC guidelines/filings were not followed to raise capital from a large group of unaccredited investors.

I'm not a financial lender or whatever the legal term is. 

Here in Michigan you need to be licensed as a real estate agent or broker to be legal.