During the mortgage crisis i worked as a loan officer for a very short period , in that time frame i saw how shady that part of the business was, customers where signing documents blind and for that very reason most lost their homes, everyone was taking full advantage of the situation and trying to get a wealthy as fast as possible before the party was over.What i dont like working with loan brokers/officers is that there is a lot of jargon in their paper work that they only understand , i wouldnt want to get stuck in bad mortgage deal .

If the policy lapses or is canceled due to ownership changes, the property could be left uninsured, exposing both parties to risks.

I know there are a ton of features I don't utilize personally, I mostly use it just for tenant application and screening process, and then for rent and fee collection In my personal experience here's my pros and consPros•Had a template for screening questions on the application so I didn't have to think of things to ask myself•Handles rent collection easily and for only a $1 fee to my tenants for ACH transfer which makes it easy for both parties•I can set up all rent and fees at the beginning of a lease term so it's set it and forget it for me•My tenants have said setting up auto-pay was easy and I like to make it as easy as possible for them to pay me!

If portfolio growth is not the goal, then it definitely reduces some of the risk on your side including third party risk (the bank being a party with a vested interest in the property), but also yield adjustment risk.

The fortunate part is that I did 90% of the work so actual cost was only material and alot of my time.

I’m late to the party but I’ll add something.  

Can I use my own AMC and third party? 

If the parties want to terminate his interest but not her interest, but she does not qualify to pay rent alone, you have to determine whether you are going to allow him to terminate his interest or not.

Value of the property and the terms agreed upon between the parties

While creating an LLC is a fairly simple process that anyone can do the more difficult part is the OA.