And I don't know if you can switch to your own tile co (and pay for the title insurance) after you picked the "use seller's closing agent" choice.

The part I'm confused about is if I need to sign a lease on day one, or if the current verbal agreement is sufficient.

Here's what I'm thinking:  1)  Find a buyer (already have someone interested) and complete an assignment contract and have them give us a deposit - making sure they have sufficient POF.  2)  Ask escrow to add the new buyer to the contract.  3) Have the new buyer wire the funds to close escrow. 4) Record a grant deed from our company to the new buyer in exchange for the balance of the assignment fee. 

The OP and the co-owner have choices.  

It's about $85 to do yourself or $400 on legalzoom.com After you have the LLC you get an EIN for the LLC and open a business checking account at your bank of choice.

My current top choice is a 5 Unit for $140k.  

@Chan K Look into Dwolla and PayNearMe , give all the tenants 2 choice: pay at 7-11 for a $4 charge OR pay online for free,

It's worth going to the seminar to try and pickup on the free information however it's ultimately a high pressure sales scheme where you will be forced to make a choice to invest a large sum of money with a lot of unknowns.

I've dedicated many of his songs to my wife when we were younglings dating.Lol.Anyways, Let's make some assumptions here before we tackle this multiple choice question you have posed.

Occasionally a tenant has done some significant damage, but so far nothing that was insurmountable.We put an emphasis on offering good rental units (B & C), maintaining them well, establishing keen rental criteria, thorough tenant screening, a strong rental agreement, clearly discussing every aspect of the rental agreement with the tenant before we hand over the keys, establishing and maintaining good relationships with tenants, good relationships with neighbors who will alert us as needed, a good relationship with local law enforcement, regular property inspections, swift follow-up to rental agreement violations, sufficient insurance and a sufficient reserve fund.We stand behind our mission statement:   "We strive to provide safe, clean, affordable, comfortable, and quiet housing for responsible renters in the neighborhoods of West Vancouver."