I have not done this, but can offer some thoughts.Assume your agreement states something like "owner or representative" and rent to be delivered "as designated", giving you the flexibility to toggle between you and PM without a new agreement.  

While they still have to follow certain federal guidelines they also have flexibility to come up with their own guidelines in other areas.

As an alternative, you can probably insert an early termination fee amount so it provides flexibility for the tenant to leave without having to deal with subleasing issues; however, you'd have to consider worst case scenario: Tenant exercises the early-termination option in December, which places you in a tough situation as a landlord in the Chicago area. 2.  

I like the idea of a month to month lease leaving me with some flexibility, I hadn't thought of that.

A hands on guy might want to do it himself so we are flexible.  

Reading here and doing research is the only reason I’m confident enough to consider getting into rental properties (and hopefully build long-term wealth).I have found a property that I’m interested in and I’m curious to hear if you more seasoned investors would go for it.I know it’s impossible to know online, but I’ll give you everything I know: 2 Flat – both 2 bed/ 1 bathListed at $119k, realtor indicated that there’d be some flexibility so I’m hoping to get it under $110k.Estimated Rehab $15k (I’m going to firm this up significantly before closing).Rentometer says fair rent is $900/unit.My gut knowing the area is that $700-$750/unit is a safer estimate.Taxes of $4,600Tenants would pay utilities, but I’d probably hire a lawn cutting/snow shoveling crew.Visibly looks like a single family and surrounded by other SFH on quiet street near pretty good schools.A partner and I are able to put down 25% and pay rehab costs up front.It’s in an older, but relatively stable southwest suburb of Chicago.Taxes suck in this town, but otherwise it’s an appealing town for me to be in.If anyone has thoughts I’d love to hear them.

Unfortunately I just don't know how in the world I would fit REI into my own schedule let alone be flexible enough to accomodate the schedule of someone so generous to open his/hers to me.

It's easy to work with for people who want to get up and running out of the gate and it's flexible enough for experienced site builders and "SEO'ers" to really be able to get additional power out of it.Definitely worth the money (in my opinion); I have no connection with IC, in fact, we are "friendly competitors" in some area... but, the facts are the facts!!!

As for me...I have great credit (800 fico) but little cash (about $40k) Owners are flexible though and may carry much of the downpayment.

In the upcoming scenario, 3 of the 4 units in a 4plex will all be vacated and re-occupied in literally a 10min-2 hour period. 2 of these units will be vacated and re-occupied by people already living at the building, who are switching units, with some flexibility because I am accommodating their desired unit (and one is my handyman, so more flexibility there).