They provide you the proper documentation and will guide you as to exactly what needs to be done along the entire process.

I would also find a different PM as it sounds like they arent doing proper screenings.

There legal basis is greatly reduced through proper disclosures contained in a properly drawn PPM.

Again, I am not sure if assigning a contract is legal in Ohio without the proper licensing.

(the cost of such policy as quoted to me by multiple companies + the cost of dwelling/fire is STILL less than what insurance costs me now)c: Once this is done, seek out a proper refi.My question is this, is this the wrong strategy?

This way, you know the contract itself is legit and you just need to worry about filling in the proper terms (i.e. your earnest money deposit, specifying your escrow/closing agent, giving yourself a favorable inspection period, etc.). 

I'll check out the site and weight my options.

I don’t have the money to put a big down payment on this thing, and based on their numbers I think I’d have to get it closer to 700k for it to cash flow properly (almost $100 per door at 700k and 100% financed).They may be willing to seller finance 10%.

My gut feeling says you probably won't get all of the rent, and they'll be out by the first.The most costly expense is a bad tenant, so once they are gone, make sure to screen your next tenants properly.

@John Doiloitte You cannot make them leave but just give them proper notice the inspector is coming.