I'm not saying I won't ever represent myself, but the commissions aren't relevant in the grand scheme of things to me because there's plenty of money to go around everywhere if you're doing this right. 

I have changed my rental strategy to short-term rentals and co-living (rent by room) to allow for more cash flow. 

If there are no boarding house limitation to the number of unrelated persons, does this structuring matter?  

Because the original value of your closed loan was based on renovations being done, there is no additional value to use for the removal of the PMI.Maybe consider refi to another lender who will order another AVM or appraisal to get you a more desirable LTV. 

These are really questions for your attorney - the more typical scenario for a jv like this is you have a new LLC where you are the manager of the LLC and the investor also owns a percentage of it.that way you don't have to deal with transferring it etc. 

Analyze potential rental income versus expenses carefully to ensure the property will generate income from the start.

The home is in a C- to B neighborhood, depending on the person.

I am not saying or comparing them to Norada, just saying that make sure you truly understand what it is you are investing in if you go this route. 

@Shawn NofzigerHi Shawn,I came across your post and while I am a long way from Lansing, I work with a ton of new and aspiring investors and the challenges they have getting from idea to action. 

Anywhere from $500 - $2500+ depending on the insert you install and whether you run the vent and exhaust up the old flu or cap the flu and vent/exhaust through the side of the house/chimney.If you hire out the entire job, expect to be in the $1K - $1200 range.